RERA Maharashtra – No further extension for project registration

RERA Maharashtra – No further extension for project registration

The Maharashtra Real Estate Regulatory Authority has asked all the real estate developers to register their on-going projects with the RERA by July 31st, 2017. While speaking on the benefits of RERA in a workshop organised by the Pune Metropolitan Region Development Authority (PMRDA), Mr. Gautam Chatterjee , Chairman of the RERA Maharashtra said that the RERA will bring discipline and transparency in the real estate sector and will not harm anyone if realtors carry out the business as per the prescribed guidelines, he added. To ensure that the consumers get the benefits of this Act, he said that no further extension would be provided for project registration beyond the deadline and requested all developers to speed up to process of registration.

He also assured the realtors that the RERA is not only to hear the grievances of buyers. Any real estate stakeholders can complain to the RERA and the authority will take proper action against the defaulter.

As of now 20 on-going projects and more than 1000 real estate agents have registered with the RERA Maharashtra. As per the sources, the registration of under construction projects will hike by the month end.

Maharashtra is one of the few states to set up a RERA tribunal. Maharashtra RERA recently heard a complaint against a real estate agency and penalized it with Rs. 1.20 lakhs for misguiding people by putting wrong information in an advertisement of an unregistered project.

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