Results for #promoter

RERA #promoters#application#maharera
Is the promoter's application made in electronic or physical form for MahaRERA?
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Aahwaana Ramesh

40 Answered

Answered on November 08, 2017
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    • Application can currently be made online at https://maharerait.mahaonline.gov.in/
    RERA #delay#possesion#interest#possession#promoter
    In case of delay in getting possession from the promoter, will the buyer be entitled to get interest on the amount paid by him, for such delayed period?
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    Dhvanil Vakharia,Design Engineer

    31 Answered

    Answered on November 08, 2017
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    • ( Source : maharera.mahaonline.gov.in) Yes. In accordance with the model form of agreement, if the Promoter fails to abide by the time schedule for completing the project and handing over the [Apartment/Plot] to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend...
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    RERA #promoter#agent#complaints#complaint#buyer
    Can a promoter or a real estate agent also file complaint against a buyer?
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    Dhvanil Vakharia,Design Engineer

    31 Answered

    Answered on November 08, 2017
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    • ( Source : maharera.mahaonline.gov.in) Yes. An aggrieved person having any interest in the registered real estate project can file complaint.
    RERA #compensation#promoter#allottee
    What is the obligation of the promoter towards return of amount and compensation to the allottee?
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    Dhvanil Vakharia,Design Engineer

    31 Answered

    Answered on November 08, 2017
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    • ( Source : maharera.mahaonline.gov.in) Section 18 of the Act provides for provisions as regards various situations in which the allottee would be compensated by the promoter due to delay in completion of the project etc.
    RERA #fees#additional fees#promoters#maharera
    Is there some fee, in addition to the fees prescribed in the Rules, to be charged from promoters, real estate agents and complainants for the MahaRERA website uploading and online services?
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    Dhvanil Vakharia,Design Engineer

    31 Answered

    Answered on November 08, 2017
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    • ( Source : maharera.mahaonline.gov.in) Yes. It has been detailed in the MahaRERA Order available on the MahaRERA website.
    RERA #permissions#promoter#mandatory#registration#maharera
    Is it mandatory for the promoter to obtain permissions for the real estate project before applying for registration to MahaRERA?
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    Dhvanil Vakharia,Design Engineer

    31 Answered

    Answered on November 08, 2017
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    • ( Source : maharera.mahaonline.gov.in) Yes, the layout of the real estate project has to be approved. However, the promoter may include some buildings in his application of registration where apartments are proposed and the Building approvals are pending. Building Approval for the apartment...
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    RERA #society#promoter#legal
    Is there any time limit prescribed for the promoter for formation of society or any other legal entity of home buyers?
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    Dhvanil Vakharia,Design Engineer

    31 Answered

    Answered on November 08, 2017
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    • ( Source : maharera.mahaonline.gov.in) Promoter has to enable formation of Legal Entity like Cooperative Society, Company, Association, Federation etc. within three months from the date on which fifty one per cent of the total number of Purchasers, in such a buildin...
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    RERA #promoters
    According to the Act, is there a deadline or time limit by when the promoter's account must be audited?
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    Aahwaana Ramesh

    40 Answered

    Answered on November 08, 2017
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    • The original certificates of Architect, Accountant and Engineer have to be retained by the promoter because the same are required to be verified and audited by the statutory auditor of the promoter's company within 6 months of every financial year.
    RERA #separate#promoter
    Is there a minimum percentage of the funds received from allottees that needs to be ringfenced in a separate account? What are the terms under which the promoter can make withdrawals from such an account?
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    Aahwaana Ramesh

    40 Answered

    Answered on November 08, 2017
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    • 70% of the money received from sales needs to be deposited in an account, from which withdrawals are possible only when certificate from architect, engineer and Chartered accountant have been submitted
    RERA #promoter#payment#instalments#buyer#maha
    What is the limit on interest that can be levied by the promoter in case of default in payment of any instalments by buyer under Maha RERA
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    Aahwaana Ramesh

    40 Answered

    Answered on November 08, 2017
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    • The rate of interest payable by the promoters to the allottees or by the allottees to the promoters, as the case may be, shall be the State Bank of India highest Marginal Cost of Lending Rate plus two percent: Provided that in case the State Bank of India Marginal Cost of Lending Rate is not in use it would be replaced by such benchmark lending rates which the State Bank of India may fix from t...
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