CREDAI seeks clarification on compulsory registration of projects under RERA

According to the Confederation of Real Estate Developers Associations of India (CREDAI-Pune Metro), registration under Real Estate Regulatory Authority (RERA) should not be made mandatory for housing projects that have got completion or occupancy certificate before implementation of the RERA Act in Maharashtra. The RERA registration was not mandatory for the housing projects that had procured a completion certificate or occupancy certificate prior to the implementation of RERA Act.

However, the latest circular from the Revenue and Forest Department has notified that no agreement for sale for any property would be registered without RERA registration and has made registration under RERA compulsory. According to CREDAI Pune, the new notification is causing confusion and hardship to the home-buyers, as the Sub Registrars Offices are refusing to register the documents.

CREDAI-Pune Metro has sought clarifications from Anil Kawde – Inspector General of Registration and Collector of Stamps (IGR), Maharashtra State and Gautam Chatterjee – Chairperson, MahaRERA on the issue.

CREDAI-Pune Metro has also requested that the projects that have received completion certificate/occupancy certificate prior to RERA coming in force in Maharashtra and registration of projects with land area less than 500 sq mtrs and less than 8 units be exempted from getting registered under RERA.

CREDAI has also sought exemption in cases of resale of flats or apartments or plots wherein the developer is not a party in the document.