MahaRERA relaxes rules to speed up construction of rural projects

For projected development projects under the control of state Gram Panchayats, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a few additional rules to relax the RERA's registration requirements. Recent changes mean that for plotted development projects, Non Agricultural (NA) certifications will henceforth be treated as Commencement Certificates (CC). Occupancy certificate (OC), which is required to inform RERA that the project is finished, will also be denoted by receipt of intimation of tehsildar acknowledgment, signed by the project architect, following completion and execution of all requirements imposed by the competent authority. For RERA registration, developers often need to provide both CC and OC. These credentials are required in order to register any project. Real estate developers, however, encounter a number of difficulties while working on projects for rural local bodies. Real estate developments in rural regions may move more quickly now that the rules have changed and the NA certificate is accepted as CC since RERA projects can be registered more quickly. Also read: PSP Projects gains on emerging as L1 bidder for govt project New housing supply surges by 51% in 2022 across seven cities