Builders will no longer be able to register their ongoing real estate projects with the MahaRERA (Maharashtra Real Estate Regulatory Authority), as the authority members have decided to not to increase the extension for the process.
After facing the criticism for lack of response to complaints on unregistered projects, RERA officials mentioned that they are analysing these unregistered projects and will take strict action against those builders who failed to register their ongoing projects with RERA, violating the norms within a week.
Initially the deadline was July 31, RERA members gave 2 extensions to the developers to register their ongoing projects after paying a late fee, which was increased after second extension was granted till 30 September. Till July 31, RERA received 10,852 applications online and till now, 13373 projects are registered. 201 more applications are to be processed and around 9,661 real estate agents have registered themselves.
“During last month, some more builders came up to register their ongoing or new projects with RERA and another extension is not required,” RERA official source said. Gautam Chatterjee, Chairman of RERA and Vijay Satbir Singh, member of RERA, confirmed that builders will not be getting anymore extensions for registering ongoing projects.
Officials said that they are now analysing about 1,000 complaints filed by the homebuyers or activists regarding the unregistered projects.
We are verifying the complaints to see if they have failed to register. Many of these complaints have incomplete details and in some of them, no documents have been provided. After the analysis, we will take strict action against those violating the Act. If a project has not been registered, those involved would be penalised. As per RERA rules, the builders might be fined upto 10 per cent of the project cost. If developer fails to comply, the builder also may face an imprisonment of up to 3 years or an additional fine of 10 % of project cost or both
Initially RERA slapped a fine of Rs 50,000 on about 480 ongoing housing project registered between July 31 and August 2, fine was increased to Rs. 1 lakh for projects registered till 16 August. After second extension, promoters paid Rs 2 lakh or double registration cost, having an upper limit of Rs 10 lakh.