Devendra Fadnavis approves RERA rules, law ministry to give final nod

Mumbai: Chief Minister Devendra Fadnavis has approved Real Estate Regulator Act (RERA) 2016 rules, which protect the home buyers’ interest. The RERA 2016, which would soon come into existence as the act, has been sent to law and judiciary department for the final nod.

The sources in the housing department said that the chief minister has approved the draft act after making four changes. The draft of the act was sent to the CM last week for approval after taking into consideration public suggestions and objections.

“As per the amendments, builders will not be allowed to charge more than ten per cent of booking amount from the buyers. Occupational certificate (OC) and completion certificate (CC) have also been made mandatory for ongoing construction projects,” the sources said.

The sources added, “A builder can charge more than the allowed booking amount only after the builder and the buyer have an agreement on the same, which must be submitted to the RERA authority in the state. Without registration with the RERA, developers cannot charge more than ten per cent.”

It is not clear yet if the CM has made changes in the draft to prevent discrimination while buying homes on the lines of religion, caste and sex.

The draft act that was sent to the CM had only mentioned that “there cannot be discrimination on any grounds. This clearly shows that the state is not in favour of any discrimination,” an official said.

The state government has finalised the place to set up RERA office.

The RERA authority’s office, which will act as a quasi-judicial body that can impose fines on those found guilty, will be set up at SRA building in Bandra. Every builder will have to register himself with the RERA authority before selling flats to the buyers.