Mumbai: The Maharashtra Real Estate Regulatory Authority(MahaRERA) has come up with a list of documents to be submitted by the developers carrying out any redevelopment project. According to this newly issued circular, it reads that while the sale component in the redevelopment projects needs to be registered with MahaRERA as per Section 3 of the Act. Therefore, there is a need to clarify the details of the documents to be submitted by the Promoter for the redevelopment projects so as to ensure completeness of the registration application and removal of any ambiguity.
The list of documents that are required to be attached for registration of sale component of Redevelopment Projects includes Resolution / NOC from Society/Association of residents of the rehabilitation component confirming the Promoter’s rights to undertake the redevelopment project. LoI / NoC / Equivalent Document from the Planning Authority confirming Promoter’s rights to undertake the redevelopment project. Valid Commencement Certificate(CC) of Sale Component from concerned Planning Authority.
Also, all the above documents should be in name of the Promoter entity. Where the Promoter’s name is not on CC, a copy of the collaboration agreement, development agreement, joint development agreement or any other form of agreement, as the case may be, confirming the right of Promoter entity to execute the agreement for sale or such other document, in respect of the saleable component. Moreover, all the documents provided above should be clearly legible. The data provided in the documents should be current up-to-date and true on the date of submission of application, the circular states.
In State and Mumbai city, there are several redevelopment projects being undertaken, such as Slum Rehabilitation Projects(SRA), Redevelopment of Housing Societies, Redevelopment of Housing Schemes of MHADA & Other Public Authorities, Cluster Redevelopment, Redevelopment of Cessed Buildings, etc. under 33(5), 33(7), 33(7 A), 33(78), 33(9), 33(9A), 33(98),33(10),33(10,4), etc. of Greater Mumbai DCPR 2034 and under UDCPR for Maharashtra State.
Therefore, the revised list of documents that are required to be submitted by the appointed developer will ensure that comprehensive information is available to citizens in simple and easily understandable formats, ensuring informed decision-making.
This will also enhance transparency and citizen centricity in the real estate sector in the State, added the authority.
Housing experts believe by doing so the homebuyers will be well informed that in the selected project in which they are investing whether it is a redevelopment project or not will be understood. Moreover, what all permissions the developer has and needs to apply will be clearly known.
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)