MahaRERA Directs Kalyan-Dombivli Municipal Corporation To Validate OCs Of Over 3,000 Lapsed Real Estate Projects
Mumbai: Following fake construction document fraud in Kalyan-Dombivali area, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a decision to get OCs of lapsed projects to be verified by the respective Planning Authorities.
The housing regulator had served notices to the developers, wherein their projects had lapsed. It received responses from 3,699 project developers stating that the housing project has been completed. As a result, these developers have uploaded OC on MahaRERA’s website.
As part of the process, MahaRERA is sending project details to all concerned Planning Authorities, requesting them to verify whether OCs uploaded have indeed been issued by them or not. The authorities have been requested to confirm the factual status within 10 days. In case of absence of response within the stipulated period, MahaRERA will assume that the OCs issued are genuine and will accordingly mark the projects as completed.
In the letter to the Planning Authorities across Maharashtra, MahaRERA has clarified that in case of any discrepancies found at a later stage, the entire risk and cost-related responsibility will rest with the concerned Planning Authority.
These 3,699 projects include 1,819 from the Mumbai Metropolitan Region, 1,223 from Pune region, 273 from Nashik region, 132 from Chhatrapati Sambhajinagar region, 84 from Amravati region and 168 from Nagpur region.
It is mandatory for each of the housing projects to be registered with MahaRERA. It is only after the project’s registration can a developer sale homes, subject to certain conditions. During the construction period, promoters are required to submit quarterly progress reports and annual audit reports.
Post-project’s completion, it is mandatory to upload the OC, issued by the respective Planning Authority, on MahaRERA’s website. It is only after MahaRERA’s acceptance of this OC, a promoter is permitted to withdraw all the funds from the designated account. Additionally, the promoter is no longer required to file any further disclosures related to that project.
Mumbai Metropolitan Region: 1,819
Mumbai City – 106
Mumbai Suburb – 430
Thane – 557
Palghar – 175
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