MahaRERA’s new project certificate gives homebuyers complete info upfront - from floor count to parking

MahaRERA’s new project registration certificate will include details such as total built-up area, building and wing names, approved floors, among other aspects

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a homebuyer-friendly step by introducing a more detailed project registration certificate to enhance transparency in the real estate sector.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a homebuyer-friendly step by introducing a more detailed project registration certificate to enhance transparency in the real estate sector. (Picture for representational purposes only) (Mehul R Thakkar/HT)

The new certificate will include key project details such as the total built-up area, names and numbers of buildings and wings, the total number of approved habitable floors, residential and non-residential units, approved floors for construction, and the number of parking slots available for four-wheelers, two-wheelers, and visitors.

This move aims to simplify project information and empower homebuyers to make more informed decisions.

According to MahaRERA, homebuyers will now be able to access key information about a real estate project directly through the registration certificate and its annexure, eliminating the need to sift through multiple documents on the portal.

"This homebuyer-centric step has been taken by MahaRERA after taking into account the essential preliminary information a homebuyer needs pertaining to a housing project. The decision will be applicable with immediate effect for all the new housing projects," MahaRERA said in a statement.

What will the new MahaRERA project registration certificate include?

According to MahaRERA, the earlier version of the registration certificate included only basic details such as the project name and the promoter’s name and address.

"In the new registration certificate, details such as project’s total built-up area, name and number of the buildings and wings, total number of approved habitable floors, total number of residential and non-residential units, total number of floors approved for construction and total number of parking slots available for four-wheelers, two-wheelers and visitors will also be included," the MahaRERA said in the statement.

According to MahaRERA, the project registration certificate will be updated periodically. "If there are any updates in the project’s information, such as an extension of the timeline, transferring the project to another developer, or corrections in the project, the updates will get reflected in the revised certificate," the MahaRERA said.

MahaRERA's real estate project certificate registration. (MahaRERA data)

When will the new decision come into effect?

According to MahaRERA, the new rule will be effective immediately and will apply to all newly registered housing projects.

MahaRERA said that a new registration certificate will be issued for projects already registered, including crucial information, which will significantly benefit homebuyers.

MahaRERA stated that the annexure to the new registration certificate will now also include details from the Commencement Certificate (CC), such as the approved construction height (floor-wise) and the total number of parking spaces.

Additionally, if a developer makes any changes during the project lifecycle, such as revising deadlines, entering into a joint venture, or transferring the project to another company, these updates will be reflected in a revised MahaRERA certificate issued for the project.

MahaRERA has also mandated that all advertisements across media platforms must display a QR code containing key preliminary project information along with the project registration number. Scanning this QR code will allow homebuyers to quickly access essential project details.

Why was the decision taken?

According to MahaRERA chairman Manoj Saunik, most people invest their life savings to purchase a home. To ensure this investment is safe and secure, MahaRERA has been committed to protecting homebuyers’ rights. With this objective and to address potential future challenges, the authority has started issuing project registration numbers only after conducting thorough legal, financial, and technical scrutiny.

“MahaRERA has initiated including key project details on registration certificates issued for new housing projects,” said chairman Manoj Saunik. “These details cover the project’s total built-up area, names of the buildings and wings, and the total number of floors approved for construction. We consistently urge homebuyers to review these details carefully and verify all legal aspects before making any decision or transaction.”

Real estate developers welcome MahaRERA’s decision

Real estate developers have welcomed MahaRERA’s move to include additional details in the project registration certificate.

“We welcome this step by MahaRERA to simplify the flow of information to homebuyers. This mechanism ensures that key details are shared in a concise and, in many cases, near real-time manner,” said Aksha Kamboj, executive chairperson of Aspect Global.

Pune-based developer Rahul Ajmera of Vasupujya Corporation said, “Any move that empowers homebuyers is a welcome step. It also makes it easier for real estate developers to share relevant information. At the same time, MahaRERA could further simplify its website in the coming months to improve the flow of information to homebuyers.”