No extension for RERA registration: Maharashtra CM

[] Maharashtra chief minister Devendra Fadnavis has ruled out any extension in the 90-day period given to developers, which expires on July 31, 2017, to register their ongoing projects under the Real Estate Act

Maharashtra chief minister Devendra Fadnavis, on June 12, 2017, reiterated that there will be no extension for registration of ongoing projects, beyond July 31, 2017, under the Real Estate Regulatory Authority. “As far as the appointed date for registration is concerned, I fully endorse the view of Maharashtra RERA (MahaRERA) chairman, Gautam Chatterjee,” the chief minister said, while addressing builders and developers at a conference.

You are reading: No extension for RERA registration: Maharashtra CM

Real estate developers were given a 90-day window, to register their new and ongoing projects, with the real estate authority, which ends on July 31, 2017. Chatterjee had recently said that no extension would be given, for the registration of ongoing real estate projects, beyond July 31.

Read also : Shriram Properties, Xander enter into USD 350 million deal

“Ultimately, at some point, we have to register. I am of the view: Why tomorrow, why not today? So, get registered on the appointed date and I believe things will be smooth,” Fadnavis explained. He assured industry members that the government will be lenient for one or two years. “The authority and the government will be absolutely lenient for one or two years. On mere technical grounds, we will not allow anybody to be harassed,” he said.

The chief minister said that if required, say, after six months, if there are some practical problems, the government will look into the rules again and take care of it. “In a year’s time, the ball will be rolling smoothly,” he reiterated.

[] What is RERA and how will it impact the real estate industry and home buyers?

Read also : Salem-Chennai highway not for benefit of any individual: TN CM

Juxtaposing the enactment of the Real Estate (Regulation and Development) Act (RERA), with the demonetisation exercise, the chief minister said that RERA was announced well in advance, compared to demonetisation, which was an overnight directive. Despite struggles, people understood the importance, he pointed out. “People fear the unknown. If we survived demonetisation, what is RERA?” he said.

Speaking about the impact on business, Fadnavis explained that the government will ensure a secure and positive business environment. “Unless we give proper flexibility to businesses, they won’t flourish. Real estate is one sector, which plays a major role in the economy of Mumbai and Maharashtra. Under MahaRERA, we will ensure that all questions are answered and businesses will not feel any impediment,” he added.

On GST, he assured the industry that the government will facilitate a smooth transition. “The government is not an inspector but a facilitator. In that role, I assure you, in one year, there will be no problems left. The GST regime will be working better than VAT,” he said.

Copyright belongs to:

Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button