To simplify the RERA registration requirements, the MahaRERA (Maharashtra Real Estate Regulatory Authority) has created a few new measures for plotted development projects under the control of state Gram Panchayats.
According to recent changes, certificates for non-agricultural (NA) projects will now be regarded as Commencement Certificates (CC).
A completion certificate (OC), which is required to notify RERA that the project is finished, will also be denoted by receipt of the tehsildar acknowledgement notification, signed by the project architect, following fulfilment and execution of all obligations placed by the competent authority.
For RERA registration, developers often need to provide both CC and OC.
The incorporation of any project requires these credentials. Real estate developers, however, encounter a number of difficulties while working on projects for rural local bodies.
Real estate developments in rural regions may move more quickly now that the rules have changed and the NA certificate is accepted as equal to a CC since projects covered by RERA can be recorded more quickly.
MahaRERA’s norms relaxation will result in rural developments and a step towards the betterment of rural areas.
