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Fees for new Real Estate Project Registration:
According to Rule 3 sub-rules (5) clause (i) of the Maharashtra Real Estate (Regulation and Development)(Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017 as amended by The Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interests and disclosures on website) (Amendment) Rules, 2019:
At the time of application for registration, the promoter shall pay a registration fee, calculated on the area of the land proposed to be developed at the rate of, rupees ten per square meter, subject to a minimum of rupees ten thousand only and a maximum of rupees ten lakhs; and in case of plotted development, the promoter shall pay registration fee, calculated on the area of the land proposed to be developed, at rate of rupees five per square meter.
Fees for Real Estate Project Extension:
According to Rule 7 sub-rule (3) of the Maharashtra Real Estate (Regulation and Development)(Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017 as amended by The Maharashtra Real Estate (Regulation and Development) (Registration of real estate projects, Registration of real estate agents, rates of interests and disclosures on website) (Amendment) Rules, 2019:
The application for extension of Real Estate Project shall be accompanied with fees calculated on the area of land proposed to be developed at the rate of rupees ten per square meter, subject to a minimum of rupees ten thousand only and a maximum of rupees ten lakhs only, and in case of plotted development, the promoter shall pay an extension fee, calculated on the area of the land proposed to be developed at the rate of rupees five per square meter.
Fees for Registration of Real Estate Agent
According to Rule 11 sub-rule (3) of the Maharashtra Real Estate (Regulation and Development)(Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017, (i) A sum of rupees ten thousand, in case of applicant being an individual; and (ii) rupees one lakh, in case of the applicant being other than an individual.
According to Rule 12 sub-rule (4) of the Maharashtra Real Estate (Regulation and Development)(Registration of real estate projects, Registration of real estate agents, rates of interest and disclosures on website) Rules, 2017, The registration granted under this rule shall be valid for a period of five years
Author: CA. Vipul Jain
Date of Publishing this Article: 8th September, 2022
Disclaimer: The contents of this article should not be constituted as opinion. The contents are merely personal views of the author and provided for information purpose. Readers are requested to refer all the legal provisions. Author/Site Owner is not responsible for any loss, damages caused. Further, this is not an advertisement by professional involved.
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