Who it applies to
Promoters of registered projects nearing completion, from the architect's completion certificate through occupancy, handover, conveyance and closure of the designated accounts.
Legal basis
| Provision | What it requires |
|---|---|
| Section 11(4)(b) | Promoter to obtain the completion or occupancy certificate and make it available to allottees |
| Section 11(4)(e) | Enable formation of the association or society of allottees within three months of a majority booking, unless local law provides otherwise |
| Section 17(1) | Registered conveyance in favour of allottees or their association within the period under local law; where none, within three months of the OC |
| Section 14(3) | Promoter liable to rectify structural defects notified within five years of handing over possession |
| Form 4 (MahaRERA) | Architect's certificate on completion of the project or phase |
| Form 5 (final year) | Statutory auditor's report covering the year of completion |
| MahaRERA Order No. 56/2024 | Procedure for closing the designated accounts; operations stop on completion unless MahaRERA directs otherwise |
In Maharashtra, MOFA and the Maharashtra Co-operative Societies Act interact with Sections 11(4)(e) and 17; the applicable period depends on the project's facts.
Documents required
Form 4 from the architect, occupancy or completion certificate, final Forms 1, 2 and 3, final Form 5, list of allottees and handover status, society or association registration documents, draft conveyance or deed of apartment, and closing bank statements of the designated accounts.
Timeline
| Event | When |
|---|---|
| Form 4 and OC upload | On receipt of OC |
| Society or association formation | Three months from majority booking, subject to local law |
| Conveyance | Period under local law; else three months from OC |
| Final Form 5 | Within six months of the FY end in which the project completes |
| Defect liability | Five years from possession |
Consequences of non-compliance
Delay in OC or conveyance gives allottees grounds for complaints, interest claims and orders under Section 18.
Projects left open on the portal continue to attract QPR obligations and default notices.
Contraventions of Section 11 or 17 attract penalty under Section 61 of up to 5% of the estimated project cost.
How we help
- Form 4 coordination and OC upload
- Final Forms 1, 2 and 3, and coordination of the final Form 5 with the statutory auditor
- Society or association formation support
- Conveyance or deed of apartment, through our legal associates
- Closure of designated accounts and of the project on the portal
OC expected in the next two quarters?
Request a consultation to plan handover, conveyance and closure.
Content as at 27-10-2026. General information only, not professional advice; see our Disclaimer.