By Accommodation Times Bureau
Real estate developers in Maharashtra can continue to advertise and market their ongoing projects till July-end, but they will not be permitted to do so thereafter without registering themselves with the state’s Real Estate Regulatory Authority (RERA).
Although the central government has said that no real estate projects can be advertised or marketed without registration with the RERA concerned, officials said that developers in Maharashtra will get the stipulated 90-day window starting from May 1.
According to the Maharashtra regulator, the rules framed by the state prohibit the ongoing projects from advertising and sales after the end of 90 days from the date of notification of the Act.
“Maharashtra Real Estate Regulatory Authority follows the rules framed by the Maharashtra government. Registration Rules 4 (3) second proviso bans the promoter of ongoing projects to advertise and sell at the end of 90 days from the date of notification of section 3 of the Act,“ MahaRERA chairperson Gautam Chatterjee told ET.
Additionally, the regulator has suggested the state government to seek law and judiciary’s opinion on this matter.
For new projects, developers are banned from advertising unless they are registered. But projects that have already received occupation certificate have been exempted from registration under RERA, Chatterjee said.
The government enacted the Real Estate (Regulation & Development) Act 2016 and all the sections of the Act have come into force with effect from May 1, this year.Maharashtra was one of the first to notify its rules under the Act and establish MahaRERA.