MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY
Circular No. 394/2022 | Dated:17/03/2022
No. MahaRERA/Secy/File No. 27/76/2022
Sub:- Submission of Certificate to the Schedule bank operating the separate account and copies thereof to MahaRERA Authority.
Ref:- Circular No.39/2021. dated 28.12.2021 bearing No. MahaRERA/Secy/File No. 27/285/2021
Whereas, Circular No: 39/2021 bearing No. MahaRERA/Secy/File No. 27/285/2021 has come into force with effect from 28.12.2021.
And whereas, based on inputs received from stakeholders, it is felt desirable and necessary to supplement the last paragraph of the said Circular by adding the following after the words “by promoters to MahaRERA Authority.”
“In the event, the said three certificate as submitted to the schedule bank operating the separate account entitles a promoter to withdraw a particular amount and if the promoter chooses to withdraw the said amount in tranches, then for every such withdrawal fresh certificates from project architect, project engineer and charted accountant in practice need not be submitted.
The copy of same certificates that entitled the promoter to withdraw the amount upto the limit as stated in the said three certificates will have to be submitted for every withdrawal along with letter from promoter recording therein the dates of the said certificates and the details of the withdrawal made and copies thereof shall be submitted online by promoters to MahaRERA Authority.”
The last paragraph of the Circular No: 39/2021 bearing No. MahaRERA/Secy/File No. 27/285/2021 shall now read as follows:
In view of the provisions of the Act, the rules and regulation made thereunder, referred to herein above, promoter henceforth shall submit the said three certificates to the schedule bank operating the separate account at the time of every withdrawal from the separate account irrespective whether such real estate project is a new project or an ongoing project to the occupancy certificate/completion certificate as the case may be, in respect of the said project is obtained and the copies thereof shall be submitted online by promoters to MahaRERA Authority. In the event, the said three certificate as submitted to the schedule bank operating the separate account entitles a promoter to withdraw a particular amount and if the promoter chooses to withdraw the said amount in tranches, then for every such withdrawal fresh certificates from project architect, project engineer and charted accountant in practice need not be submitted. The copy of same certificates that entitled the promoter to withdraw the amount upto the limit as stated in the said three certificates will have to be submitted for every withdrawal along with letter from promoter recording therein the dates of the said certificates and the details of the withdrawal made and copies thereof shall be submitted online by promoters to MahaRERA Authority.
This Circular shall be read along with Circular No. 39/2021 dated 28.12.2021.
This Circular shall come into force with immediate effect.
(By approval of Hon’ble Chairperson / MahaRERA)
(Dr. Vasant Prabhu)
Secretary / MahaRERA
