The Maharashtra Real Estate Regulatory Authority (MahaRERA) has mandated all developers to declare the PIN code of the site of their project instead of renaming the location in their advertisements. Most of the developers, even bigger ones are renaming the project location and tagging it with posh addresses to attract buyers.
For example, developers use new BKC instead of Kalyan-Bhiwandi, which is the original address of their project to lure buyers . This misleads the buyers who end up buying properties that are not up to the expectations.
Commenting on this deed by the developers , the Chairman of RERA Maharashtra, Gautam Chatterjee said that the authority has noticed this and thus mandated all the developers to unveil the actual PIN code of the project location and update the same on the Maharashtra RERA website.
Maharashtra is one of the few states which has set up a permanent tribunal for the RERA and launched an online portal to give information about the RERA registered projects and real estate agents to the general public.