RERA Mumbai-Government mandates to register SRA projects by 31st July

RERA Mumbai-Government mandates to register SRA projects by 31st July

The Maharashtra Real Estate (Regulation & development) Act, MahaRERA mandated all slum redevelopment projects to register with the authority by 31st July 2017.

According to the sources, Gautam Chatterjee, the interim chairman, Maharashtra RERA wrote a letter to the Slum Rehabilitation Authority (SRA) asking the entire slum project to be registered with the RERA. Almost 1200 SRA projects are on the radar for registering with the RERA.

The government offers land to the developers on which a slum is settled for only 25% of the approved slum land to pay for the cost of free housing to the slum dwellers. The profit margins vary from 40% to 100% thus SRA projects in Mumbai are highly profitable.

The Real Estate (Regulatory & development) Act was implemented on May 1st, 2017 in Maharashtra. As per the rules, no developers can sell their projects with the RERA and no real estate brokers can do real estate business without registering themselves with the authority.

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Comments :

    VIVEK DHURI

    We all 140 tenants / members staying at Thane and presently our lands given to developers to develop under Slum Rehabilitation authority (SRA). Seven years already passed and still staying at rental rental basis. My question is, can you please advise, it is necessary to register our development with RERA

    Sra Scam

    Stop sra scam by bogus builder Bogus builder are involved in sra scam who allot extra room to members of fake documents. Government need to check and take necessary action against such scam how can every family member have individual room in a slum. Stop sra scams by bogus builders

    pavan

    Untill and unless corruption in HMDA & GHMC stopped, No RERA bill will impact on real estate - Central govt has to recruit team and design separate department to getting everyone in one tree.. in terms of permission , registration , documentation , ulc , ec , sub-registar ... only online and no signature policy will reduce 70% of corruption in india.

    Gajanan Deshpande

    Is it applicable for Built operate and transfer project entrusted by Municipal Corporation, the shops in this project will be alloted on lease basis and not to dale and lease agreement will be a try party agreement for the period of 30 years

      Bharati Tarkas RERA Advisor

      As per provisions of RERA Act & rules, an element of 'sale' is mandatory to bring the project under the ambit of RERA registration. In the case mentioned by you, nature of the agreement/ basis of allotment is long term lease, though the shops developed / built by developer are indirectly sold to the buyer by builder. but the ownership rights remains with the Municipal Corporation. The rights of the buyer are established through lease agreement by way of a try party agreement for the period of 30 years. There is no element of direct sale evolved in this case therefore the same will not come under ambit of RERA. But still the interpretation depends upon the exact terms of Agreement.

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