Ever felt lost in the maze of real estate regulations? You’re not alone! There’s been quite a buzz around Maharashtra Real Estate Regulatory Authority (MahaRERA) Order 50, especially after it dropped in January. A lot of folks believed it meant you couldn’t register multiple projects or phases within a large layout. The rumor mill went wild with the idea that if you had a layout with, say, 10-12 buildings, you couldn’t break it down into phases for registration. But is that really what Order 50 says?
Let’s cut through the confusion and get to the heart of the matter. What does MahaRERA actually intend with Order 50?
Order 50: The Real Deal
Order 50 is all about preventing double registration. Plain and simple. MahaRERA wants to ensure that a project within a sanctioned plan is registered only once. Think of it as making sure no one tries to sell the same plot of land twice!
But here’s the million-dollar question: does this mean you can’t phase your large layout?
Phasing Isn’t Dead!
Absolutely not! Despite what you might have heard, Order 50 doesn’t stop you from phasing your project. If you’ve got a large layout with multiple buildings, you can still break it down into phases and register each phase separately. It is still possible to get your RERA registration done for each building separately. Don’t let anyone tell you otherwise.
The One Condition You MUST Know About
So, what’s the catch? There’s really just one key condition you need to keep in mind when phasing your project under Order 50.
When you register the first phase, the layout plan you submit has to be spot-on. It needs to accurately show the location of all the amenities and specifications you’re planning for the entire layout. We’re talking about things like:
- Swimming Pool
- Gym
- Playground
- Garden
- Roads
- STP (Sewage Treatment Plant)
- Any Other Amenities You Plan to Offer
Here’s the kicker: you cannot change the location of these amenities and specifications in any of the subsequent phases. Once you’ve declared where the swimming pool is going, it has to go there. The same goes for the gym, the playground, and everything else.
Why is this so important? MahaRERA wants to ensure transparency and protect homebuyers. They want to make sure that what’s promised in the initial layout plan is actually delivered. It’s all about building trust and preventing developers from changing things up mid-project.
What This Means for You: Practical Advice
So, what does all this mean for you in practical terms?
- You can still phase your large layout: Go ahead and break your project down into manageable phases.
- Each phase can have its own RERA number: You’re not stuck with a single registration for the entire layout.
- You can get separate RERA numbers for each phase: Apply with confidence!
In other words, you don’t need to sweat it. Order 50 isn’t a roadblock to phasing. It’s simply a rule to ensure transparency and prevent dodgy practices.
Understanding the Jargon
Let’s break down some of the key terms we’ve been throwing around:
- MahaRERA: This stands for Maharashtra Real Estate Regulatory Authority. It’s the government body that regulates the real estate sector in Maharashtra, ensuring fair practices and protecting the interests of homebuyers. You can visit the official MahaRERA website for more information.
- Order 50: The specific order issued by MahaRERA that sparked all the confusion. Hopefully, this post has cleared things up!
- Phase: A portion of a larger real estate project that is developed and registered separately. Think of it as building a large apartment complex in stages.
- Sanctioned Plan: The approved plan for a real estate project, outlining the layout, building design, and amenities.
In Conclusion
Order 50 is designed to prevent double registration, not to stop you from phasing your large layout. As long as you stick to the rule about not changing the location of amenities in subsequent phases, you’re good to go.
So, take a deep breath, get your plans in order, and register your phases with confidence. MahaRERA is there to help create a fair and transparent real estate market for everyone.
