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Maharashtra RERA Law & Practice

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Original price Rs. 3,595.00
Current price Rs. 2,876.00

Author: Ramesh S. Prabhu, Kaushik Sampat, S.S. Sandhu, Gautam Chatterjee, Sumant Kolhe, B.D. Kapadnis, D.R. Hadadare
Year: 2021

WIRC’s Maharashtra RERA Law & Practice covers the Real Estate Regulating Authority Act (RERA) along with Rules, Regulations, Notifications, Circulars & relevant Case Laws for complying with the provisions of RERA. The book aims to organise the learnings of RERA implementation (since its inception) & correlating the legal provisions (such as Circulars, Orders, etc.) to give a complete picture of the law

This book incorporates the perspectives of the following stakeholders:

  • Representatives of Self-Regulating Organisations
    • Brihanmumbai Developers Association
    • Builders Association of India
  • Representatives of Association of Allottees & Professional Bodies
    • PEATA
    • Bar Association of MahaRERA & MahaREAT
    • Members of WIRC of ICAI
    • Mumbai Grahak Panchayat
    • Confederation of Residents Welfare Association
    • Maharashtra Cooperative Housing Federation Ltd.
    • Maharashtra Societies Welfare Association
    • Mumbai District Cooperative Housing Federation
    • Women Legal Forum for CHS
    • Engineers Associations

This book will be helpful to the following:

  • Chartered Accountants
  • Advocates
  • Promoters & Investors
  • Real Estate Agents
  • Allottees (including Association of Allottees), Flat Purchasers
  • Policy Makers, RERA Authorities & Officials from the RERA Appellate Tribunal
  • Engineers
  • Contractors & Architects
  • Project Management Consultants
  • Developers & Development Managers

The Present Publication is the 1st Edition, authored by the study group of industry experts & representatives from all stakeholders, edited by CA Ramesh S. Prabhu & co-edited by CA Kaushik Sampat, reviewed under the guidance of Hon’ble Shri S.S. Sandhu, Shri. Gautam Chatterjee, Shri. Sumant Kolhe, Shri. B.D. Kapadnis & Shri. D.R. Hadadare, with the following noteworthy features:

  • [Coverage of each aspect of Real Estate Transactions] with the following:
    • Necessary legal provisions
    • Steps & prescribed procedures for compliance (Standard Operating Procedures)
    • The consequential risk of violation and inviting penal actions
    • FAQs and the Judicial Rulings have been included to make the manual relevant and practice-oriented
    • Covering representation aspects of appearing before the Real Estate Regulatory Authority, Adjudicating Officer, Real Estate Appellate Tribunal
  • [Practical Manual in Simple Language] with the discussion of the provisions along with Rules, Orders, Regulations, and applicable Circulars for each particular chapter
  • [Practical Ready Referencer] The various formats, drafts and specimen are included in the manual, where the practitioner may accordingly decide to change the draft considering the facts and the relief claimed
  • [360° Coverage] This book covers the legal and practical aspects of Maharashtra RERA along with other legal provisions affecting the real estate transaction such as:
    • Income-tax Act
    • Goods & Services Act
    • Insolvency & Bankruptcy Code
    • Consumer Protection Act
    • Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act
    • Maharashtra Apartment Ownership Act
    • Transfer of Property Act, Stamp Duty & Registration
    • Prevention of Money Laundering Act
    • Foreign Exchange Management Act
    • Monopolistic and Restrictive Trade Practices Act
    • Development Control and Promotion Regulation

The detailed contents of the book are as follows:

  • General – Applicable to all Stakeholders
    • Overview of RERA, 2016
    • Journey & Implementation of RERA
    • Objective and Purpose of RERA
    • Real Estate Sector Deficiencies Addressed by RERA
    • The Authorities to Implement the Act
    • Powers and Functions of Real Estate Regulatory Authority
    • Powers and Functions of Adjudicating Officers
    • Central Advisory Council – Establishment and Functions
    • Real Estate Appellate Tribunal and its Functions and Powers
  • Promoter – From the Promoters Perspective
    • Promoter under RERA
    • Functions and Duties of Promoter
    • Registration of Real Estate Project – Legal Framework
    • Documents Required and the Process of Registration
    • Operation of RERA Designated Bank Account
    • A Financial Planning for Real Estate Projects
    • Project Updates to be Done by the Promoters
    • Procedure to Extend the Period of the Registration
    • Procedure for Amendment or Modification in the Sanctioned Plans
    • Transfer of Real Estate Project to Third Party
    • The Transfer of Title
    • Force Majeure and COVID Impact on Real Estate Sector
    • Advertising and Marketing Post RERA
    • Importance of End Date/Completion Date and Date of Possession under RERA
    • Change in Process and Procedure of Real Estate Business post-RERA
    • Car Parking Space and MahaRERA Circular
    • RERA Compliance Report by Chartered Accountant
  • Agent – From the Real Estate Perspective
    • Registration of Estate Agents – Legal Framework
    • Process to Obtain Registration for Real Estate Agent
    • Functions of the Real Estate Agent
    • Impact of RERA on Estate Agents
    • Changing Business Landscape for Realtors post RERA
  • Allottees – From the Allottees and the Association of Allottees Perspective
    • Revocation of Registration of the Project
    • Stalled Real Estate Projects and Revival
    • Alternative Investment Fund for Real Estate including SWAMIH FUNDS
    • Rights and Duties of Allottees
    • Association of Allottees
    • Remedies for Conveyance and Deemed Conveyance
    • Allottee Due Diligence before Purchasing Property
  • Professional – From Professional Perspective for CAs, Advocates, Engineers, Architects
    • Title Certificate
    • Allotment Letter, Agreement for Sale and Sale Deed
    • Role and Responsibilities of Architect under RERA
    • The Roles and Responsibilities of a Civil Engineer and Issue of Form 2 under RERA
    • Quality Assurance and Defect Liability under RERA
    • Certificate in Form 3 by Chartered Accountant
    • Audit by Chartered Accountant under MahaRERA (Form 616 No. 5)
    • Guidance Note on Accounting for Real Estate Transactions 668 (Revised 2012) and Revenue from Contracts with Customers (Ind AS-115)
    • Key Audit Challenges – Real Estate Sector
    • Real Estate Collaborations & Significance of Corporate Due Diligence
  • Redressal – Redressal System: Complaint, Appeal, Second Appeal, Conciliation
    • Source Complaints against Unregistered Projects for Registration
    • Complaint Filing and its Procedure
    • Process of an Inquiry by the Authority or Adjudication Officer
    • Appeals under RERA
    • Second Appeal before High Court
    • Execution of Orders of MahaRERA and Adjudicating Officer
    • Execution of a Decree under Code of Civil Procedure, 1908
    • Complaints by Association of Allottees
    • Offences and Penalties
    • MahaRERA Conciliation and Dispute Resolution Forum
    • MahaRERA Conciliation Forum Role Model of ADR in Real Estate Sector
  • Income Tax, GST – Taxation: Income Tax, GST, Stamp Duty and Registration
    • Income-tax Applicable on Real Estate Transactions
    • Overview of GST Implications of Real Estate Sector
    • Stamp Duty and Registration
  • Allied Laws – Other Allied Laws like MRTP, DCPR, IBC, Consumer Protection, etc.
    • Real Estate Laws of India
    • Salient Features of Maharashtra Ownership Flats Act, 1963 (‘MOFA’)
    • Comparison between MOFA and RERA
    • Overview of Maharashtra Apartment Ownership Act, 1970
    • Development Control Regulations and MahaRERA
    • Consumer Protection and RERA: Best Recourse to Allottees
    • Draft Format/Specimen of Consumer Complaint
    • Landmark Judgments of the Consumer Courts
    • Insolvency Resolution Process in Real Estate
    • Interplay of PMLA, Benami, FEMA with RERA
  • Miscellaneous – Topics Related to Real Estate Rulings & Redevelopment
    • Constitutional Validity of RERA
    • Analysis of Judgments
    • Society Redevelopment and RERA
  • Act and Rules – Act, Rules, Notifications, MahaRERA Orders and Circulars
    • The Real Estate (Regulation and Development) Act, 2016
    • 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
    • Maharashtra Real Estate Regulatory Authority, Chairperson, Members Officers and other Employees (Appointment and Service Conditions) Rules, 2017
    • Maharashtra Real Estate (Regulation and Development) (Recovery of Interest, Penalty, Compensation, Fine Payable, Forms of Complaints and Appeal, etc.) Rules, 2017
    • Maharashtra Real Estate Appellate Tribunal (Members 1405 Officers and Employees) (Appointment and Service Conditions) Rules, 2017
    • Maharashtra Real Estate Regulatory Authority (Form of Annual Statement of Accounts and Annual Report) Rules, 2017
    • Maharashtra Real Estate Regulatory Authority (Recruitment and Conditions of Service of Employees) Regulations, 2017
    • Maharashtra Real Estate Regulatory Authority (General) Regulations, 2017
    • Maharashtra Real Estate Regulatory Authority (General) (Amendment) Regulations, 2019
    • Maharashtra Real Estate Regulatory Authority (General) (Second Amendment) Regulations, 2019
    • Constitution and Operations of Real Estate Regulatory Fund
    • MahaRERA Orders and Circulars (Selected and Important)
    • Maharashtra Real Estate Appellate Tribunal Regulations, 2019
    • Circulars – Appellate Tribunal (Selected and Important)
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