Submission of proforma of allotment letter and agreement for sale during project registration
PUBLISHED ON: 09-06-2022
In terms of Clause (g) Sub-section 2 of Section 4 of the Real Estate (Regulation and Development) Act, 2016 (“Act”), a promoter is required to upload proformas of the allotment letter, the agreement for sale and the conveyance deed proposed to be signed with the allottees along with the application for registration of a project.
The Maharashtra Real Estate Regulatory Authority (“MahaRERA”), has by its order dated June 3, 2022, bearing Order No. 30/2022 (“Order”), in addition to the existing format of the agreement for sale, prescribed by it, provided a model form of allotment letter in Annexure 1 to the Order.
The Order provides for:
- A proforma of the allotment letter along with certain timelines for cancellation of the allotment along with the amount that can be deducted ;
- The promoter to upload a draft allotment letter at the time of applying for registration of a project;
- Any deviation from the proforma agreement for sale, must be highlighted at the time of uploading the same.
The aforementioned Order dated June 3, 2022 of MahaRERA, available here, was published on the MahaRERA website on June 6, 2022.
