LAW CHAMBER OF HINESH RATHOD (ADVOCATE)
LAW CHAMBER OF HINESH RATHOD (ADVOCATE)
February 3, 2025 at 06:34 AM
*Whether the Self-redevelopment project is to be registered with MAHA-RERA?* In accordance with Section 3 of the Real Estate (Regulation and Development) Act, 2016 (RERA), all real estate projects exceeding 500 square meters or comprising more than eight apartments must be registered with the respective Real Estate Regulatory Authority (RERA) prior to any advertisement or sale. This section explicitly outlines the criteria for registration, ensuring that all significant development projects come under the purview of RERA. Since most of the self redevelopment project shall have a sale component whereby the Society is required to sell some flats either to its own existing members or to new buyers, when the component of sale exist (both in case of development and redevelopment) registration under MAHA-RERA is mandatory. Though one may argue that if 100% of units are allotted to the existing members, which does not involve any sale of any type of units constructed or to be constructed, can be said to be exempted from registration under RERA. However, even if a single unit is offered or to be offered for sale registration shall be mandatory Consequently, self-redevelopment projects fall within this regulatory framework and must comply with Maha-RERA registration requirements. This not only enforces compliance with statutory obligations but also instils confidence among homebuyers, assuring them of the project's legitimacy and adherence to stipulated norms. In summary, the registration of self-redevelopment projects with Maha RERA is a critical measure to ensure that the development process is transparent, accountable, and in strict conformance with regulatory standards, thereby protecting the rights and interests of all stakeholders involved.

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