RERA registration must for home agreements Read

[Ajit Naik]

Dear All,

Please read the very important step of Maharashtra Government. 

https://mumbaimirror.indiatimes.com/mumbai/civic/rera-registration-must-for-home-agreements/articleshow/71251113.cms

They have banned registration of Agreement or Sale of apartments where RERA Registration of the project is not done or exempted from RERA Registration of unsold apartments ongoing projects as explained in first proviso of section 3 of RERA Act. It is an excellent decision o Maharashtra Government though delayed for 29 months. In Maharashtra, all the allottees should compulsorily become members of the registered cooperative society formed in the project and they will only get possession of the apartment by executing the Agreement for sale with possession clause and registerred with suregistrar after paying applicable stamp duty. All allottees have to register AFS twice. Once at the time of entering agreement for purchase before paying more than 10 percent of the apartment cost and then while taking possession after the project  OC.is obtained. MAOA seems to be abandoned in Maharashtra and hence there will be no registration of Deed o Declaration and Deed of Apartment.

We are insisting for similar procedures in Karnataka. Without sale deed also, there is protection to apartment buyers under section 53 A of Transfer o Property Act 1882 and Section 17(1-A) of Registration Act 1908.

Regards,

Ajit N. Naik