The Real Estate Regulatory Act-2016 (RERA) has come into effect in the State and the country from May 1, 2017. According to the RERA, online registration of real estate projects is mandatory under the RERA Authority. Projects proposed for construction in future or were incomplete as of April 30, 2017 will come under the ambit of Madhya Pradesh Regulatory Authority. Registration of ongoing or incomplete projects has been made mandatory till July 31.
According to the clarifications issued by the Government of India on June 12, online registration of project whether it is proposed, ongoing and incomplete is mandatory under the authority before marketing. Marketing without registration will be treated as invalid. A legal action will be initiated against concerned person for violation of RERA, if online marketing of projects or in any other form is found before the registration. Informing this MP Real Estate Regulatory Authority mentioned that it is proper for the consumers to verify before the booking that the project has been registered by the promoter or builder in RERA Authority.
Project’s registration can also be ensured by the registration number allotted by the RERA Authority after seeing the registration number in the project’s advertisement.