Can the Promoter transfer the development rights of the Project to Third-Party?

Can the Promoter transfer the development rights of the Project to Third-Party?

The Promoter can transfer the development rights to Third-Party but needs to get prior consent of ⅔rd of existing buyers and also written approval of MahaRERA.

However, the compliance by such new Promoter has to be done independently.

Such transfer doesnt impliedly extend the registration of the project.

Looking for more such advice? Or, seeking RERA consultation for your project, want to register your project or comply RERA by quarterly updating your project? Contact us today!

The information relayed in this blog should not be construed as legal advice. The applicability of information varies on the basis of the circumstances of each case. But feel free to call us for similar advice.