5346 Real Estate Projects completed since RERA Registration in Maharashtra

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By SRELJ Bureau

Maharashtra being one of the biggest registrant of real estate project by state RERA, have registered 25489 projects. Of these, 5346 real estate projects have been completed with OC.

On the intervening night of 30th April and 1st May 2017, the application was made open for developers to register projects online. Maharashtra having 36 districts and 358 talukas, was the first state to provide an online portal and a live website for the implementation of
RERA Act.

MahaRERA has till October 2019 received around 9000 complaints, of which over 5900 complaints have been disposed of. More than 22 Lakh Homes accommodating 1.1 Crore citizens of Maharashtra are registered and being monitored through MahaRERA IT solution.

Majority of the projects were to be completed in December 2019 of which many have been given one year extension by MAHA RERA. After the outbreak of Corona Virus, the Authority have already granted three months extension of completion date for the projects. In its circular, the Authority said :

“For all MahaRERA Registered projects where completion date, revised completion
date or extended completion date expires on or after 15th March 2020, the period of
validity for registration of such projects shall be extended by three months.
MahaRERA shall accordingly issue project registration certificates, with revised
timelines for such projects, at the earliest.”

“Further, the time limits of all statutory compliance in accordance with the Real
Estate (Regulation and Development) Act, 2016 and the rules and regulations made
thereunder, which were due in March / April / May are extended to 30th June 2020.”

MAHA RERA started registration of projects from May 1st 2017 and after three years, over 5300 have been reported to be completed which is about 25% of the total registered projects in the state.

One comment

  • “……………..Of these, 5346 real estate projects have been completed with OC….”

    ‘OC’ is not a legal concept, – as distinct from, ‘CC’ or ‘provisional – ‘CC’ that has lately come in vogue, – considered acceptable for, inter alia, the purposes of GST regime. For that matter, for registration of conveyance of individual units, and then, for final conveyance of the building complex to the purchasers’ ‘housing association’. Premised so, what is the legal effect / complicity of project completion with ‘OC’!?

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