Documents Required For RERA Registration in Maharashtra

Under the RERA Act, 2016, Maharashtra Government in 2017 established the authority for the promotion and regulation of the real estate sector in the concerned state. The body is known as Maharashtra Real Estate Regulatory Authority (MahaRERA). As per the Act, every promoter who wishes to market, sell, advertise, book, or purchase real estate project in Maharashtra is first required to obtain RERA Registration in Maharashtra.

The promoters and real estate agents can register their real estate projects with the Department of Maharashtra Real Estate Regulatory Authority. Hence, for the same, they have to file an application with the respective authority along with the required documents. In this learning section, we will discuss the RERA registration in Maharashtra in detail. 

What is RERA Registration?

All the promoters, builders, and real estate agents desirous of selling, marketing, promoting, advertising, purchasing, or booking of real estate projects need to obtain registration under RERA firstly. Such kind of registrations is known as RERA Registration.

The Real Estate (Regulation and Development) Act, 2016 aims to protect home buyers and helps lift investment in the real estate sectors. Furthermore, the Act lets other states to establish RERA (Real Estate Regulatory Authority) in each state.

Besides, the RERA Act regulates the real estate sector as well as serves as an adjudicating body for speedy dispute redressal.

The Real Estate Act has mandated it for every commercial and residential real estate project to register with the RERA where there are more than eight units of apartments and land over 500 square meters.

The authority for RERA Registration in the state of Maharashtra is known as Maha RERA.

Key Responsibilities of Real Estate Regulatory Authority

The primary responsibilities of the authority shall be as enlisted below:

• To ensure the disclosures of real estate projects by the promoters
• Registration of real estate projects
• Registration of real estate agents
• Complaints Redressal
• To provide a recommendation to the respective government regarding matters related to the promotion and development of real estate sector
• To establish symmetry of information among the buyer and developer
• Ensure the sale of real estate projects in a transparent and efficient way
• To infuse transparency, reduce frauds & delays, and ensure fair-play
• Promote good governance in the real estate sector and create investor confidence

Who all require obtaining RERA Registration in India?

The following entities have to get RERA registration mandatorily:

The promoters, real estate projects, and real estate agents are subject to the following conditions:

• The applicability of the Act has been now extended to the commercial as well as residential real estate, which also includes plotted development.
• All the commercial and residential projects exceeding 500 square meters or above eight units/apartments have to register under RERA. Furthermore, they must ensure that even the small projects of local promoters are brought under the ambit of the RERA Act.
• Every on-going project that hasn’t obtained completion certificates is also required to get registration under RERA with the Regulator within three months.
• Real estate agents facilitating purchase and selling of properties are required to obtain prior RERA registration under specific state laws.

Documents required for RERA Registration in Maharashtra from Promoters & Developers (for an on-going project)

For RERA registration in Maharashtra, firstly, the promoters or builders are required to submit the following documents:

• PAN Card of the promoter;
• Particulars of Registration including bye-laws;
• Memorandum of Association;
• Articles of Association;
• Self-certified copies of all letterheads;
• Declaration or Income Tax Returns details of the last three years;
• Self-certified copy of letterhead rubber stamp;
• Acknowledgment receipts to be used by the real estate agent;
• Promoter’s audited balance sheet for the preceding financial year;
• In case the promoter isn’t the landowner on which the project development is proposed, then following documents from the owner of the land is mandatory:

a)    Consent;

b)    Development agreement;

c)    Joint development agreement;

d)    Collaboration agreement;

e)    Any other agreement between the promoter and owner.

• Name, address, contact details, and a photograph of the promoter/director/partners/chairman or any other authorized person if there’s any other entity;
• Details of Architecture and design standards, type of technology used in construction, earthquake-resistant measures, etc.
• Layout plan of the real estate project;
• Details regarding the encumbrances regarding the proposed land where the real estate project needs to be undertaken;
• Details about the proceedings that are sub-judice in respect of the proposed land for real estate project (if any);
• The number of covered parking spaces;
• Information related to the proposed plan, sanctioned plan, floor space index, layout plan, etc.
• Proposed number of wings or buildings, etc.
• Other documents as required.

Also, Read: Process to Register & Check Status under RERA in Tamil Nadu

Documents required from Real Estate Agents for RERA Registration in Maharashtra

If the applicant seeks RERA registration in Maharashtra as a real estate agent, then the person needs to submit the following documents:

• Details of registrations acquired under other laws and rules & regulations, as the case may be;
• Authenticated copy of Memorandum of Association (MoA), Articles of Association (AoA), Partnership Deeds, etc.
• Particulars of the agent’s enterprise which must include its name, type of enterprise (partnership, proprietorship firm, company, etc.), registered address of the business, PAN, Registration numbers, DIN, Aadhaar card number, etc. under which returns are filed with the statutory authority;
• Agent’s recent color photographs, whether it’s an individual or partners, directors, trustees, etc. Furthermore, it also includes persons in service, etc. with real estate agents;
• Details of Income Tax Returns for the last three fiscal years preceding the application;
• In case the applicant is exempted from filing such returns in any of the three years, the entity must submit the declaration to such effect;
• Particulars of all criminal or civil cases pending against the agent;
• Details regarding the real estate projects and their promoters (if any) on behalf of whose the applicant is acting as a real estate agent in the preceding five years;
• Authenticated copies of all rubber stamp images, letterheads, and acknowledgment receipts proposed that real estate agent would be using;
• Other such documents and information, as may be specified by regulations.

RERA Registration Fees in Maharashtra for Real Estate Developers

The registration fees differ for a different entity seeking RERA registration in Maharashtra. Here, we have presented fees for each of them:

a) Registration Fee for Real Estate Projects

The fee for RERA registration in Maharashtra for real estate projects is a minimum of Rs. 50, 000 or Rs. 10 per square meter. However, the maximum fee lays up to Rs. 10, 00,000 only.

b) Application Fee for the time extension of the project

For the time extension, the developer can apply based on the area of the proposed land to be developed by submitting a minimum of Rs. 50, 000 or Rs. 10 per square meter. However, the maximum fee lays up to Rs. 10, 00,000 only.

c) Withdrawing application fee for the registration of the project

The fee for withdrawing the application for real estate project registration lies to the extent as stated by the regulations framed by the authority.  

Maharashtra RERA Registration Fee for Real Estate Agents

Real estate agents could either apply for fresh registration or for renewal of the registration. Fees for both are as follows:

a) Real Estate Agent Registration Fee

In case the agent is an individual, he has to pay a sum of Rs. 10, 000. However, if the applicant is other than an individual, then the agent must pay a sum of Rs. 1, 00,000.

b) Renewal Fee for the Registration of Real Estate Agent

The applicant needs to file Form J sixty days before the registration expires for the renewal of registration.

In case the agent is an individual, he has to pay a sum of Rs. 10, 000. However, if the applicant is other than an individual, then the agent must pay a sum of Rs. 1, 00,000.

Also, Read: Importance of RERA Registration in Real Estate