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).
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