In a move to bolster transparency and consumer protection, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced a stringent policy to commence from June 19. The new protocol stipulates approval of new real estate projects only after an in-depth verification of their commencement certificates (CCs), to be sent directly by the local authorities. This initiative aims to curb instances of fraudulent documentation, reminiscent of the Kalyan Dombivali case, ensuring rigorous scrutiny before granting project registrations.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has declared a new ruling, taking effect from June 19, which will only permit the registration of new projects after a thorough inspection of their commencement certificates (CCs) from the corresponding local bodies.
In a bid to ensure greater transparency and consumer protection, the MahaRERA has mandated local authorities to directly forward the CCs to its specified email address. The officials have given the local authorities the option to either showcase the CCs of the registered projects on their own websites or integrate their web platforms with the MahaRERA website. However, it was noted that despite the grace period provided until March 31 for the local authorities to implement this process, the majority have yet to upload the CCs or align their websites.
This step has been implemented to prevent incidents like the Kalyan Dombivali case where multiple developers submitted fraudulent documentation to secure MahaRERA registration certificates, as stated by a MahaRERA official. The authority confirmed that a comparative analysis will be conducted between the CCs received from local bodies and those submitted by the developers before granting the registration. In the new order, it's emphasized that each developer must provide a CC issued by the competent authority as a part of their project registration submission.
Previously, MahaRERA had urged the state's Urban Development Department to establish a system displaying all real estate project approvals, such as commencement and occupation certificates, on a dedicated portal. The proposed system would be controlled by the respective competent authorities, enabling buyers and MahaRERA to verify the authenticity of the certificates.
Officials further clarified that this move is integral to enhancing transparency and protecting consumers. Additionally, in February, the state government released a government resolution (GR) to integrate the MahaRERA portal with those of individual permission-granting bodies.
In conclusion, the new MahaRERA measures highlight the need for increased transparency and accuracy in real estate project registrations. By reinforcing its verification processes, the authority aims to eliminate the possibility of fraudulent activities while ensuring consumer protection. As the industry awaits the effective date of June 19, local authorities are urged to speed up their compliance process.
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