MahaRERA compliance revolves around the timely submission of various forms and reports as prescribed under the Real Estate (Regulation and Development) Act, 2016.
Below is an overview of key compliance requirements and forms for promoters:
- Initial Registration
• Form A: Application for registration of a real estate project.
• Supporting Documents: Include ownership proof, layout plan, estimated cost, and other details.
- Quarterly Compliance Reports
• Promoters must upload Quarterly Progress Reports (QPRs) on the MahaRERA portal for each registered project.
• Details to be updated:
o Development progress
o Financial updates (fund utilization)
o Sale of units
o Pending approvals and legal compliance
- Ongoing Compliance Forms
• Form 1: Certificate from a Project Architect regarding the percentage of project completion (required for withdrawal of funds).
• Form 2: Certificate from an Engineer detailing the cost incurred on the project.
• Form 3: Certificate from a Chartered Accountant on project cost utilization and withdrawal eligibility.
- Project Completion
• Form 4: Architect’s Certificate of Completion confirming the project is complete and ready for occupancy.
o Required to upload the Completion Certificate (CC) or Occupancy Certificate (OC).
- Extension of Project Registration
• Form E: Application for an extension if the project is not completed within the registered deadline.
o Valid for a maximum of one year beyond the initial registration.
- Withdrawal or Cancellation
• Form D: Application for withdrawal or cancellation of registration.
- Financial Compliance
• Ensure that 70% of project funds received from allottees are deposited in a separate escrow account and utilized only for the project.
- Annual Audit
• Submit an Annual Audit Report detailing:
o Fund utilization
o Status of project completion
o Sales progress
Key Deadlines
• QPRs: Within 15 days of the end of each quarter.
• Completion Certificate/Form 4: Before the registered completion date.
• Extension Form (E): Before the project lapses.
Consequences of Non-Compliance
• Penalties under Sections 60, 61, 62, and 63 of the Act.
• Revocation of project registration.
• Freezing of project bank accounts.
FAQ
- do i need to upload both oc and cc on maharera website?
You need to upload either the Occupancy Certificate (OC) or the Completion Certificate (CC) on the MahaRERA website, depending on the status and requirements of your project. Here’s what you need to know:
When to Upload OC or CC on MahaRERA:
- If Occupancy is Allowed (OC):
o If the project is completed and ready for possession/occupancy, you must upload the Occupancy Certificate (OC) on the MahaRERA portal.
o The OC certifies that the building is safe and fit for occupation, and it is legally required to hand over possession to allottees. - If Only Completion is Certified (CC):
o If the construction is completed as per the approved plans but the OC is not yet issued, you can upload the Completion Certificate (CC) as proof of compliance.
o The CC demonstrates that the construction is as per sanctioned plans and is often required to process the OC. - MahaRERA Requirements:
o As per Section 11(1)(b) of the RERA Act, the promoter must upload quarterly updates, including:
Completion Status (via CC or OC).
Updated project details.
o Either of the documents is mandatory to confirm the project’s completion.
Best Practices for Uploading:
• If OC is issued, upload it as it signifies readiness for possession.
• If only CC is available, upload it and follow up with the OC when issued.
• Ensure all documents are in PDF format and clearly legible.
• Update the project status and associated details on the MahaRERA portal.
Consequences of Non-Compliance:
• Failure to upload these documents can lead to:
o Penalties under Sections 60, 61, and 63 of the RERA Act.
o Revocation or suspension of the project registration.
o Legal complications with buyers.