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Property Related Laws Maharashtra Ministry of Housing and Urban Affairs Real Estate (Regulation and Development) Act, 2016

The Maharashtra Real Estate Regulatory Authority issues an order regarding de-registration of real estate projects or part of a real estate of project

10-Feb-2023 | Order No. 42 / 2023

The Maharashtra Real Estate Regulatory Authority has issued an order regarding de-registration of real estate projects or part of a real estate project referring section34 of the Act which specifies the registration and regulation of real estate projects and real estate agents registered under the act.

By virtue of the Order , MahaRERA lays down procedure for de-registration of such real estate projects where promoters who have registered their real estate projects are unable to commence and complete the construction of the same or having commenced the construction are not in a position to complete the construction of the real estate project due to various reasons such as lack of funds, projects economically not viable litigations filed, inter se disputes , family disputes, change in planning government and planning authority notifications and accordingly are desirous of discontinuing the said real estate project.

The following procedures are:

1. The prerequisites for de-registration of such real estate projects shall be as follows:
I. Ensure that the project must have zero allotees and no bookings shall be considered for deregistration.
ii. Ensure that Promoters must submit the 2/3rd allottees consent together with the application for de-registration along with rights of Allottees are settled by the promoter and the documents regarding the same are submitted to Maharera.

2. Submission of application for de-registration of a real estate project
I. Application to be submitted via email to secy@maharera,mahaonline.gov.in .
ii. The online procedure is set to be notified subsequently along with submission of notarized declaration-cum-undertaking in prescribed format with stating to justify the reason for de-registration.

3.Maharera has clarified that any aggrieved person may file complaints in matter of Deregistration and same shall be heard due notice to promoters and decided by authority.

For more details, please refer to the attachment.

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