Gautam Chatterjee , the Chairman of Maharashtra Real Estate (Regulatory & development) Authority, MahaRERA on Saturday said that all the developers have to mention their RERA registration number in the advertisement of their projects from 1st August 2017.
As of now, a total of 16 projects and 1,900 real estate agents have registered with the RERA Maharashtra . The developers who have not registered their projects with the RERA till now have to register within three months, starting from 1st May 2017.
As per the Maharashtra RERA rules, all developers need to publicize their project details on MahaRERA website and have to regularly update the details of their on-going projects.
The developers who have received completion certificates for their projects before 1st May 2017are not required to register with the RERA. In the case of phase-wise development, the promoters have to register each phase separately with the authority.
After the developer uploads all the required documents and disclosures online, an independent regulator will examine the same and a registration number will be allotted to the respective project/phase.
If the developer fails to comply with RERA rules and does not work as per the disclosure, then it would be considered as the violation of the law and strict action will be taken against him/her.
A buyer can reach the grievance redressal cell both online or offline if he/she wants to file a complaint against the developer or the agent. Using RERA’s fast track dispute redressal system, the case would be solved within seven days and one case can be registered with one RERA court only.
According to the RERA officials, the main aim of the act is to infuse transparency in the system and provide possession to those buyers who had already paid the amount to the developer.
The Maharashtra is one of the few states which have implemented the Real Estate (Regulation & development) Act , RERA on 1st May 2017.