Results for #promoter


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Answered on November 09, 2017
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  • ( Source : maharera.mahaonline.gov.in) Yes. In accordance with the model form of agreement, if the Promoter fails to abide by the time schedule for completing the project and handing over the [Apartment/Plot] to the Allottee, the Promoter agrees to pay to the Allottee, who does not intend...
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    Answered on November 09, 2017
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  • ( Source : maharera.mahaonline.gov.in) Yes. An aggrieved person having any interest in the registered real estate project can file complaint.

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    Answered on November 09, 2017
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  • ( Source : maharera.mahaonline.gov.in) Section 18 of the Act provides for provisions as regards various situations in which the allottee would be compensated by the promoter due to delay in completion of the project etc.


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    Answered on November 09, 2017
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  • ( Source : maharera.mahaonline.gov.in) Yes, the layout of the real estate project has to be approved. However, the promoter may include some buildings in his application of registration where apartments are proposed and the Building approvals are pending. Building Approval for the apartment...
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    Answered on November 09, 2017
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  • ( Source : maharera.mahaonline.gov.in) Promoter has to enable formation of Legal Entity like Cooperative Society, Company, Association, Federation etc. within three months from the date on which fifty one per cent of the total number of Purchasers, in such a buildin...
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    Answered on November 09, 2017
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  • The original certificates of Architect, Accountant and Engineer have to be retained by the promoter because the same are required to be verified and audited by the statutory auditor of the promoter's company within 6 months of every financial year.

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    Answered on November 09, 2017
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  • 70% of the money received from sales needs to be deposited in an account, from which withdrawals are possible only when certificate from architect, engineer and Chartered accountant have been submitted

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    Answered on November 09, 2017
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  • The rate of interest payable by the promoters to the allottees or by the allottees to the promoters, as the case may be, shall be the State Bank of India highest Marginal Cost of Lending Rate plus two percent: Provided that in case the State Bank of India Marginal Cost of Lending Rate is not in use it would be replaced by such benchmark lending rates which the State Bank of India may fix from t...
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