Workshop on RERA implication organized by MCHI Navi Mumbai unit

By Accommodation Times (www.accommodationtimes.com)
Navi Mumbai:
Navi Mumbai Unit of Maharashtra Chamber of Housing Industry (MCHI) has organized a workshop on ‘Real Estate Regulatory Authority’ at Vashi. The former president of MCHI Sunil Mantri has clarified the bill categorically states, “No promoter shall develop any immovable property or make any construction without registering the real estate project and obtaining a certificate of registration from the Real Estate Regulatory Authority.” According to it “if project is being constructed in the several phases then it will require a fresh registration have to be obtained for each phase.” However, it let off registration for developments on an area below 4,000 square metres. Moreover bill obligates that each and every developer has to register with the regulator and obtain a certificate.
The main and important feature of the bill is that developer will have to submit comprehensive information on the number and size of the plots, layout plan, proposed project and the proposed facilities to be provided. In addition, all sanctions and approvals from the competent authorities will have to be submitted to the regulator.