Standardized Formats for:
(A) Legal Title Report;
(B) Extension u/s 7 (3); and
(C) Correction u/s 14(2)
Whereas Section 4 of the Real Estate (Regulation and Development) Act. 2016 prescribes the procedure for real estate project registration, and Rule 3 (2) (c) of the Real Estate (Regulation and Development) Act, 2016, prescribes the procedure for real estate agent registration. Rates of interest and website disclosures) Rules, 2017, requires that the submission of the most recent legal title report with each project registration application be complete. This should reflect the owner or promoter's title to the land on which development is proposed along with the authentication of such title by a practising attorney.
This has resulted in the evolution of this specific format for Title Reports. The format is annexed as "Format A," and the applicant should upload it in place of the "Legal Title Report" in the project registration application.
Furthermore, should the Title / Commencement Certificate not be in the name of the Promoter(s), they must add a field for the Promoter, Land Owner (investor) and details of all land owners along with their Form B and MOU/DA. Area / Revenue Share, and so on.
Whereas MahaRERA Order No. 07/2019 calls for the approval of an association of allottees for an order under Section 7(3) of the Act in order to obtain an extension of the project's completion date. This has resulted in a format to make an application under section 7(3) by obtaining the consent of at least 51% of allottees. The aforementioned format is attached as "Format B," and the applicant must include it in the extension application.
Section 14(2) of the Act requires the written consent of at least two-thirds of the beneficiaries for any significant changes or additions to the approved plans, floor plans and specifications of the building or common areas.
It was therefore decided to provide a form for submitting an Article 14(2) application with the consent of at least two-thirds of her eligible persons. This format is attached as Format C and applicants must upload this format to their request for corrections and amendments