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REGISTRATION OF THE NEW REAL ESTATE PROJECT UNDER RERA REGISTRATION OF THE NEW REAL ESTATE PROJECT UNDER RERA

REGISTRATION OF THE NEW REAL ESTATE PROJECT UNDER RERA - PowerPoint Presentation

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REGISTRATION OF THE NEW REAL ESTATE PROJECT UNDER RERA - PPT Presentation

THE INSTITUTE OF COST ACCOUNTANTS OF INDIA WESTERN INDIA REGIONAL COUNCIL WEBINAR ON RERA SECOND SESSION 27 TH MAY 2020 CA SUMIT C KAPURE BCOM ACA CHAPTER II REGISTRATION OF REAL ESTATE PROJECT AND REGISTRATION OF REAL ESTATE AGENT ID: 808041

details project estate registration project details registration estate real form promoter number section case contact building authority land proposed

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Slide1

REGISTRATION OF THE NEW REAL ESTATE PROJECT UNDER RERA

THE INSTITUTE OF COST ACCOUNTANTS OF INDIAWESTERN INDIA REGIONAL COUNCILWEBINAR ON RERASECOND SESSION27TH MAY 2020

CA SUMIT C KAPURE

B.COM, ACA

Slide2

CHAPTER II – REGISTRATION OF REAL ESTATE PROJECT AND REGISTRATION OF REAL ESTATE AGENT

SECTION NO. 3 TO SECTION NO.10

Slide3

CHAPTER II – REGISTRATION OF REAL ESTATE PROJECT AND REGISTRATION OF REAL ESTATE AGENT

SECTION 3 – PRIOR REGISTRATION OF REAL ESTATE PROJECT WITH REAL ESTATE REGULATORY AUTHORITYSECTION 4 – APPLICATION FOR REGISTRATION OF REAL ESTATE PROJECTSECTION 5 – GRANT OF REGISTRATIONSECTION 6 – EXTENSION OF REGISTRATIONSECTION 7 - REVOCATION OF REGISTRATIONSECTION 8 – OBLIGATION OF AUTHORITY CONSEQUENT UPON LAPSE OF OR ON REVOCATION OF REGISTRATIONSECTION 9 – REGISTRATION OF REAL ESTATE AGENTSECTION 10 – FUNCTIONS OF REAL ESTATE AGENT

Slide4

WHO IS LIABLE TO REGISTER

Every “Real Estate Project” as defined under The Real Estate (Regulation and Development) Act, 2016 is required to be registered except – where the area of land proposed to be developed does not exceed five hundred square meters or the number of apartments proposed to be developed does not exceed eight inclusive of all phases:Provided that, if the appropriate Government considers it necessary, it may, reduce the threshold below five hundred square meters or eight apartments, as the case may be, inclusive of all phases, for exemption from registration under this Act;where the 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.Explanation.—For the purpose of this section, where the real estate project is to be developed in phases, every such phase shall be considered a stand alone real estate project, and the promoter shall obtain registration under this Act for each phase separately

Slide5

WHY REGISTRATION IS NECESSARY

SECTION 3(1) 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, without registering the real estate project with the Real Estate Regulatory Authority established under this Act:Provided that projects that are ongoing on the date of commencement of this Act and for which the completion certificate has not been issued, the promoter shall make an application to the Authority for registration of the said project within a period of three months from the date of commencement of this Act:Provided further that if the Authority thinks necessary, in the interest of allottees, for projects which are developed beyond the planning area but with the requisite permission of the local authority, it may, by order, direct the promoter of such project to register with the Authority, and the provisions of this Act or the rules and regulations made thereunder, shall apply to such projects from that stage of registration.

Slide6

OTHER THINGS ABOUT REGISTRATION

STATUTORY FEES FOR REGISTRATION – FOR BUIDING OR APARTMENT & FOR PLOTTING DEVELOPMENTVALIDITY OF THE PROJECT REGISTRATION – FROM WHICH DATE TO WHICH DATEEXTENTION OF THE PROJECT ALLOWED – YES, AS PER SECTION 6 & 7(3)REVOCATION OF REGITSRATION – YES, AS PER SECTION 7REAL ESTATE AGENT ALSO NEED TO BE REGISTERED – YES, RELEAVENT PROVISIONS IN SECTION 9WEBSITE FOR REGISTRATION OF THE PROJECT - https://maharera.mahaonline.gov.in/100% PROCEDURE IS ONLINE.ALL DOCUMENTS TO BE SUBMITTED ONLINE IN PDF FORMAT WITH FILE SIZE EQUAL TO OR LESS THAN 1 MB.UPLOADING MULTIPLE FILES IS POSSIBLE.

Slide7

REQUIREMENTS FOR PROJECT REGISTRATION - CHECKLIST

IN CASE OF PROPRIETORPAN CARD OF PROPRITORPASSPORT SIZE PHOTO, ADDRESS, AADAHAR NUMBER, CONTACT DETAILS AND EMAIL ID OF PROPRIETOR.IN CASE OF PARTNERSHIP FIRMPAN CARD OF THE PARTNERSHIP FIRM.NAME OF THE CONTACT PERSON, CONTACT NUMBER AND EMAIL ID FOR FIRM.PASSPORT SIZE PHOTO, ADDRESS, AADAHAR NUMBER, CONTACT DETAILS AND EMAIL ID OF EACH PARTNER.IN CASE OF COMPANYPAN CARD OF THE COMPANY.NAME OF THE CONTACT PERSON, CONTACT NUMBER AND EMAIL ID FOR COMPANY.PASSPORT SIZE PHOTO, ADDRESS, AADAHAR NUMBER, CONTACT DETAILS AND EMAIL ID OF EACH DIRECTOR.

Slide8

REQUIREMENTS FOR PROJECT REGISTRATION - CHECKLIST

LEGAL TITLE REPORT.DEVELOPMENT AGREEMENT IN CASE OF JOINT DEVELOPMENT.INFORMATION OF THE ENCUMBRANCE.BUILDING PLAN APPROVAL (IOD)COPY OF THE LAYOUT APPROVAL (IN CASE OF LAYOUT)FLOOR SPACE INDEX (FSI) - PROPOSED AND SANCTIONEDPROPOSED NUMBER OF BUILDINGS/WINGS TO BE CONSTRUCTED AND SANCTIONED NUMBER OF BUIDINGS OR WINGSAggregate area in square meters of the recreation space the number of covered parking spaces

Slide9

REQUIREMENTS FOR PROJECT REGISTRATION - CHECKLIST

Proposed number of floors in respect of each of the building or wing to be constructed and sanctioned number of floors in respect of each of the building or wing. In case the sanctioned number of floors is different than what is proposed to be constructed by the promoter, then the proposed number of floors shall be disclosed at the time of registration and as and when the additional number of floors are sanctioned, the same shall be uploaded on the website of the Authority by the promoter from time to time.

Slide10

REQUIREMENTS FOR PROJECT REGISTRATION - CHECKLIST

Membership of any of the SRO (Self Regulatory Organization) as prescribed by MahaRERA – CREDAI – MAHARSHTRA, CREDAI-MCHI, NAREDCO, ETCFlat Inventory - RERA area of the flat, Its type and its ready reckoner value.Litigation Details, If any In case of Land Owner/ Joint Development details of land owner like Name. Address Contact details & Form B of the Land Owner/ Joint Developer.Name & Contact Number of Authorized Person of PromoterPast Experience of Promoter

Slide11

REQUIREMENTS FOR PROJECT REGISTRATION - CHECKLIST

AFFIDAVIT CUM DECLARATION IN THE FORM B GIVING DATE OF COMPLETION OF THE PROJECT.RERA BANK ACCOUNT DETAILS.PROJECT AGENT DETAILS.PROJECT ARCHITECT DETAILS.PROJECT ENGINEER DETAILS.PROJECT CONTRACTOR DETAILS.DRAFT AGREEMENT FOR SALE.DRAFT ALLOTMENT LETTER.CERTIFICATE FROM ARCHITECT IN FORM 1.CERTIFICATE FROM CHARTERED ACCOUNTANT IN FORM 3.CERTIFICATE FROM ENGINEER IN FORM 2.

Slide12

PROCEDURE OF REGISTRATION OF REAL ESTATE PROJECT

Slide13

Go to Website - https://maharerait.mahaonline.gov.in/

LOGIN - Click on New Registration to create a user . 

Slide14

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Enter all the details and create user below message will be displayed as soon as user is created.

Only after an email is verified , then only one can login in to account.

Slide16

PROMOTER INFORMATION

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SELECT THE INFORMATION TYPE.

INDIVIDUAL.

OTHER THAN INDIVIDUAL.

FILL IN DETAILS OF THE PROMOTER AND ADDRESS OF THE PROMOTER

Slide18

Photo of the Proprietor should be uploaded here and it must be less than 1 MB and in JPG Format.

CONTACT DETAILS ARE VERY IMPORTANT.

EMAIL ID AND CONTACT NUMBER GIVEN AT THE TIME OF REGISTRATION IS USED BY MAHARERA FOR ALL FURTHER CORRESPONDANCE.

CLICK IN SAVE PROFILE ONCE ALL INFORMATION IS FILLED IN.

Slide19

SRO MEMBERSHIP

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IN CASE AN ORGANIZATION IS OTHER THAN PROPRIETOR, THEN FOLLOWING DETAILS ARE TO BE SUBMITTED

,

ONE OF THE PARTNER/ DIRECTOR SHOULD BE AUTHORIZED SIGNATORY.

Slide21

If promoter has launched the projects in last five years, then click on the past experience details under My Profile tab.

After filling the form click on save experience.Promoter can edit and delete the form after saving.

Slide22

CHANGE PASSWORD

Slide23

PROJECT DETAILS

PROJECT NAME – BE CAREFULDATE OF COMPLETION – SHOULD BE SAME AS GIVEN IN FORM B – AFFIDAVITLITIGATIONJOINT DEVELOPER/ LAND OWNER DETAILS

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PROJECT DETAILS

PLOT NUMBERAREA OF PLOTSANCTIONED BUILDING COUNTTOTAL BUILDING COUNT

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PROJECT DETAILS

Slide26

ADD PROMOTER/ LAND OWNER

Slide27

ADD PROMOTER/ LAND OWNER

Slide28

ADD PROMOTER/ LAND OWNER

Slide29

ADD BUILDING

Slide30

COMMON AREAS AND FACILITIESDETAILS ARE GIVEN IN FORM -1 THAT IS FORM GIVEN BY ARCHITECT

IF SOME MORE COMMON FACILITIES ARE TO BE ADDED, IT CAN VERY WELL BE DONE.

Slide31

PROJECT COST

DETAILS ARE GIVEN IN FORM -3 THAT IS FORM GIVEN BY CHARTERED ACCOUNTANTBOTH THE AMOUNTS THAT IS ESTIMATED AND ACTUAL NEED TO FILL IN.

Slide32

DOCUMENTS UPLOAD

Slide33

PROJECT PROFESSIONAL DETAILS

FOLLOWING PROJECT PROFESSIONAL DETAILS ARE TO BE FILLED IN.REAL ESTATE AGENTCONTRACTORARCHITECTCHARTERED ACCOUNTANTENGINEER

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LITIGATIONS DETAILS

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ACTIVITY DETAILSDETAILS ARE GIVEN IN FORM -1 THAT IS FORM GIVEN BY ARCHITECT

Slide36

PAYMENT

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PROJECT UPDATES

Further new permissions, CC, NOCs received.Project Cost (Actual Total Amount incurred) (Form 3 – CA Certificate)Form 2A – Quality Assurance CertificateDocument Upload (Documents, Certificates, Details ofencumbrances etc.)Building Details (Number of apartments Booked/Sold/Allotted)Task/Activity (Percentage of Work) (From Form 1 – Architect Certificate)Common Areas and Facilities (Work Completion Percentage)Project Professional Details (Real Estate Agent etc.)Promoter(Land Owner)/Investor DetailsFORM 5 – RERA Audit form from CA annually within six months from the date of end of the Financial Year.

Slide38

PROJECT UPDATES

HOW MUCH TO PAY?SHOULD WE UPLOAD CERTIFICATES THAT IS FORM 1, FORM 2, FORM 2A, FORM 3 EACH TIME THE PROJECT IS UPDATED?FREQUENCY OF UPDATES?ALL THE DETAILS CAN BE UPDATED?WHAT IS APPLICATION FOR CHANGE MODULE ON MAHARERA WEB PORTAL?

Slide39

PROJECT UPDATES

FIELDS TO BE CORRECTED THROUGH CORRECTION MODULE – APPLICATION FOR CHANGEORGANIZATION TYPEORGANIZATION NAMEORGANIZATION ADDRESSORGANIZATION PAN NUMBERPROJECT NAMEPROJECT COMPLETION DATEPLOT NUMBERPLOT AREAPROJECT ADDRESS

Slide40

Aggregate area(In sqmts) of recreational open spaceBuilt-up-Area as per Approved FSI (In sqmts

)Built-up-Area as per Proposed FSI (In sqmts) ( Proposed but not sanctioned) ( As soon as approved, should be immediately updated in Approved FSI)Project TypeTotal Building CountSanctioned Buildings CountProposed But Not Sanctioned Buildings CountEstimated Cost DetailsPROJECT UPDATES

Slide41

PROJECT EXTENTION

Slide42

EXTENTION OF THE PROJECT UNDER SECTION 6

MAXIMUM ONE YEAR EXTENTION CAN BE OBTAINED.SELF DECLARATION FROM PROMOTER CITING REASONS FOR EXTENTION.SELF CERTIFIED COPY OF THE PERMISSION / APPROVAL FROM THE COMPETENT AUTHORITY WHICH IS VALID FOR A PERIOD WHICH IS LONGER THAN THE PROPOSED TERM OF EXTENSION OF THE REGISTRATION SOUGHT FROM THE REGULATORY AUTHORITY.

Slide43

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Slide45

EXTENTION UNDER SECTION 7(3)

IF PROJECT IS INCOMPLETE EVEN AFTER RECEIVING AN EXTENTION UNDER SECTION 6, PROMOTER MAY APPLY FOR EXTENTION OF THE PROJECT UNDER SECTION 7(3).SELF DECLARATION FROM PROMOTER CITING REASONS FOR EXTENTION.WRITTEN CONSENT FROM AT LEAST 51% OF THE ALLOTTEES OF THE PROJECT.

Slide46

THANK YOU

CA SUNIL D NAIKB.COM, FCA, ACS, Grad. CWA +91 9821112098canaiksunil@gmail.com CA SUMIT C KAPUREB.COM, ACA +91 9892860706cakapuresumit@gmail.com