RERA knowledge series 1

Promoters

Under Real Estate (Regulation and Development) Act 2016, Promoters shall have to register all commercial and residential real estate projects with MahaRERA, except in projects where:

  • area of land proposed to be developed does not exceed five hundred square meters
  • number of apartments proposed to be developed does not exceed eight inclusive of all phases
  • promoter has received completion certificate for a real estate project prior to commencement of this Act
  • for the purpose of renovation or repair or re-development which does not involve marketing, advertising selling or new allotment of any apartment, plot or building, as the case may be, under the real estate project

No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate project or part of it, in any planning area within Maharashtra, without registering the real estate project with MahaRERA. Promoter of ongoing real estate projects, in which all buildings as per sanctioned plan have not received occupation or Completion Certificate, shall also be required to be registered for such phase of the project which consists of buildings not having occupation or completion certificate. They shall also need to provide the quarterly updates to authority from time to time.

The key facilities being provided to promoters are as follows:

  • Registration of Real Estate Projects
  • Quarterly update provision for each project
  • Extension of Real Estate Projects
  • Complaints Filing
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