corporate law
This article addresses the necessary registration requirements for the Sale Component of various redevelopment projects occurring within the State of Maharashtra. These projects include Slum Rehabilitation Projects, Housing Society Redevelopments, MHADA Housing Scheme Redevelopments, Cluster Redevelopment, and Cessed Building Redevelopments, governed under various provisions of the Greater Mumbai DCPR 2034 and the UDCPR for Maharashtra State.
According to Section 3 of the Real Estate (Regulation and Development) Act, it is necessary for the Sale Component of these redevelopment projects to be registered with MahaRERA.
To enhance clarity and ensure comprehensive registration applications, the following documents must be submitted by the Promoter for the Sale Component of Redevelopment Projects:
Resolution/NoC from Society/Association: Confirmation from the residents' society or association of the rehabilitation component, verifying the Promoter's rights to execute the redevelopment project.
LoI/NoC/Equivalent Document: A Letter of Intent (LoI), No Objection Certificate (NoC), or an equivalent document from the Planning Authority affirming the Promoter's rights related to the redevelopment project.
Valid Commencement Certificate: A Valid Commencement Certificate for the Sale Component issued by the concerned Planning Authority.
Collaboration/Development Agreement: If the Promoter's name does not appear on the Commencement Certificate, a collaboration agreement, development agreement, joint development agreement, or an equivalent document must be provided to confirm the Promoter entity's right to execute the sale agreement or related documents for the saleable component.
These requirements are set forth to ensure transparency and accessibility for citizens interacting with redevelopment projects in Maharashtra. By adhering to these guidelines, the registration process will facilitate informed decision-making and promote citizen-centric practices within the real estate sector.