RERA fee structure for Promoters of Maharashtra.

The Maharashtra RERA Authority, MahaRERA, has been the most active RERA Authorities among all. MahaRERA has been aligned with all the rules and regulations of the Real Estate (Regulation and Development) Act and has kept up with the all the necessities.

Also due to the fine performance of the authority, MahaRERA has been made responsible forconducting operations of Dadra and Nagar Haveli, and Daman and Diu as well. The required details for these territories have also been mentioned on the authority’s website.

The fee structure for promoters in the state of Maharashtra according to RERA is as follows :

     The promoter shall pay a registration fee :

Calculated on the area of the land proposed to be developed at the rate of RS. 10 per sq.m, subject to a minimum of Rs.50,000 only and a maximum of Rs.10 lacs.

The deadline for registrations of the project was 31st July 2017, which was not extended by the authority, unlike the other states. The officials of the state Authority had already made a clear statement about not modifying the deadline and penalizing the defaulters as well. However, a wholesome number of promoters still could not register as per the deadline and be accounted to a fine ranging from Rs 50,000 to Rs 10 lacs.

The projects which registered with the authority within two days after the deadline had been charged an amount of Rs 50,000 and in a separate meeting of the Authority, it was decided that the further penalty will be ranging from Rs 1 lac to Rs 10 lacs , according to the size of the project. This penalty will be valid for all the projects registered between 3rd August and 16th August, 2017.

The total number of projects that had been registered with MahaRERA within the deadline was 10,500 (approximately). There were more than a thousand projects which were registered within four days of the passing of the deadline.

MahaRERA recently also warned of strict actions on the promoters who miss the registrations by 31st August 2017, which is set as an ultimatum by the Authority. All the ongoing projects
applying for registration there onwards will be enquired by the Authority individually and will seek the specific reasons for the delay.

However, for individual agents, there has been no set deadline and the fees for the same is Rs 10,590. The license for agents will remain viable for five years.

TAGS: MahaRERA,  Real Estate (Regulation and Development) Act.