This is my response to you:

1. This is not right because the builder still has to register with MAHARERA;

2. Since the Act came into force on 1st May, 2017 therefore the builder needs to register under MAHARERA;

3. Since the OC of the building came after 1st of May 2017 therefore the building has to be registered under RERA;

4. According to the regulation, all projects that have not received Occupation Certificate and are being sold or marketed must be registered with the authority.

Firstly, Sir, what matters the most when applying for the loan in the bank is the legality of the building in terms of the completion or occupancy certificate so obtained.

Secondly, it may also be possible to get the certificates partially in two or three stages.

Thirdly, but still, I advice you to go and inquire about the same land in the department of land owing agency, if any incumbency there or not.

1. OC is received for 7th floor in B wing in which you want to purchase flat

2. So Rera will not apply

3. If you are taking bank loan, bank will do all die diligence before sanctioning loan

4. Builder is right. Rera registration not needed after receipt of OC. This wont affect your bank loan in any way

1. That no constructions of permanent nature is possible without the sanctioning of valid building plan. All construction sf a permanent structure needs to be done as valid sanctioned building plan only.

2. Only in the event of make shift structure of such building plan if snot necessary.

3. However the irregularity of building plan can later be regularised on payment of penalty.

4. Here the irregularity is not of major nature and hence you can proceed with the purchase but after getting all the papers checked by the local lawyer.

Rera is applicable. No it will not affect. But ensure transparency before loan

every ongoing and under-construction residential project, or projects that have not received their completion certificate before RERA became a law, ie 1st May 2017 comes under the purview of the Act

2) Section 3 of the Act says: “No promoter shall advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any real estate project or part of it, in any planning area, without registering the real estate project with the Real Estate Regulatory Authority established under this Act.

Provided that projects that are ongoing on the date of commencement of this Act and for which the completion certificate has not been issued, the promoter shall make an application to the Authority for registration of the said project within a period of three months from the date of commencement of this Act

3) The Act states that all ongoing as well as under-construction projects that have not received completion certificate have to get registered with the regulatory authorities within three months, i.e, July 31, 2017

4) if OC has been issued you should not face problems in obtaining bank loan

If an ongoing project falls under RERA then it’s a safe and secure investment option. The state government of maharasthra introduces a modern registration system for real estate projects under RERA which came from May 1, 2017. And the developers cannot advertise or sell units in under-construction projects without getting it registered with respective state regulatory authority. The notification says that projects that are ongoing on the date of commencement of this Act and for which the completion certificate has not been issued, the promoter shall make an application to the Authority for registration of the said project within a period of three months from the date of commencement of this Act.

The Act exempts completed projects from the purview of the Act. Section 3(1) of the Act, which says that no developer should sell without obtaining RERA registration after May 1, a project completion certificate may be used for physical completion but a project is not completed till the RWA of the society, is formed and operations handed over to the society in line with the RERA. All units need to get completion certificates before July 31 even if the housing society is cent per cent occupied and all units have been sold. A CC is a legal document that attests the fact that the new building has been constructed and completed according to all the safety norms and regulations

Building Approval for the apartment must be obtained before the agreement for sale is signed between the promoter and buyer, regarding the said apartment. If any real estate agent fails to register and contravenes the provisions of section 9 or section 10 of the Act, he shall be liable to a penalty of ten thousand rupees for every day during which such default continues, which may cumulatively extend up to five per cent of the cost of plot, apartment or buildings, as the case may be, of the real estate project, for which the sale or purchase has been facilitated as determined by MahaRERA.

However the irregularity of building plan can later be regularised on payment of penalty.

Such ongoing and under-construction projects were required to be mandatorily registered under RERA which had not received completion certificate as on July 31, 2017.

Thus:

a. your builder is right.

b. the fact that your project is not registered under RERA is not going to affect you.

Hi, any OC obtained after the introduction of RERA ( April 2016) the builder has to register under RERA .. You should get it clearified from the builder before proceeding further

Dear Sir,

Please check the documents i.e. OC/BCC

Also note that certain builders had already applied for OC/BCC when the provisions of RERA became applicable. Registration was to be done for ongoing projects till 31st July, 2017. If the builder is claiming that the OC/BCC was obtained on 31st July, 2017, then provisions of RERA may not be applicable.

Regards,

1. TO Purchase a legitimate property and consequent obtaining Loan for the same, the following is legally sufficient for all purposes:

a) Registered Stamp Duty paid Sale Agreement

b) Sanctioned Plan, CC, OC.

c) RERA registration NOT REQUIRED.

Keep Smiling .... Hemant Agarwal

1. The builder is right that sine he has already obtained OC from the competent authority, it may not be necessary.

2. This has got nothing to do with the non registration with RERA.