The Maharashtra Real Estate Regulatory Authority (“MahaRERA”) on July 1, 2022 vide an order bearing no. 31/2022 and reference no. MahaRERA/Secy/File No. 27/164/2022 (“Order”), inter-alia, -
(i) approved the amended model allotment letter (which was originally approved by MahaRERA vide an order dated June 3, 2022);
(ii) allowed the promoter to make modification in Clause 9 of the model allotment letter with respect to “increasing the number of days within which the booking can be cancelled as well as decrease the percentage of the amount to be deducted in the event of cancellation of the booking”;
(iii) directed the promoters to henceforth upload allotment letters, in the format approved vide the Order, or the amended form of the allotment letter mentioned in point (ii) hereinabove, when applying for registration of a real estate project;
(iv) directed the promoters to upload agreement for sale in the format annexed at Annexure A of Rule 10 of the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rates of Interest and Disclosures on Website) Rules, 2017 (“Rules”), or the proforma of the agreement for sale as may be modified and adapted by promoters on case to case basis having regard to the facts and circumstances of each case; and
(v) in the event of any deviations/ modifications in the proforma of the agreement for sale, as mentioned in point (iv) hereinabove, directed that such deviations/ modifications need to be highlighted in different colours and accordingly uploaded at the time of seeking registration of a real estate project, non-compliance of which, and in the event such deviations/ modifications are contrary to the Real Estate (Regulation and Development) Act, 2016 (“Act”), the Rules, and regulations framed thereunder, would result in rejection of the registration of the real estate project, subject to compliance of proviso to Section 5 of the Act.
Please find a copy of the Order, here.
This update has been contributed by Avin Sarkar (Associate).
Argus Knowledge Centre is now on WhatsApp! Send us a message on +91 8433523504 to receive updates from our Knowledge Centre.
11, 1st Floor, Free Press House
215, Nariman Point
Mumbai – 400021
9 – 10 Bahadur Shah Zafar Marg
Delhi – 110002
68 Nandidurga Road
Bengaluru – 560046
3rd Floor, 27B Camac Street
Kolkata – 700016
The rules of the Bar Council of India do not permit advocates to solicit work or advertise in any manner. This website has been created only for informational purposes and is not intended to constitute solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work in any manner. By clicking on 'Agree' below, you acknowledge and confirm the following:
a) there has been no solicitation, invitation, advertisement or inducement of any sort whatsoever from us or any of our members to solicit any work through this website;
b) you are desirous of obtaining further information about us on your own accord and for your use;
c) no information or material provided on this website is to be construed as a legal opinion and use of this website will not create any lawyer-client relationship;
d) while reasonable care has been taken in ensuring the accuracy of the contents of the website, Argus Partners shall not be responsible for the results of any actions taken on the basis of information provided in this website or for any error or omission in the website; and
e) in cases where the user has any legal issues, the user must seek independent legal advice.