Maharashtra Real Estate Regulatory Authority or MahaRERA is one of the first regulatory entities in India that incorporated almost all protocols related to real estate market under its jurisdiction. On top of that, it is also instrumental in addressing any disputes of this industry promptly.
The main objectives of setting up RERA in Maharashtra include
- Brining transparencies into the buying and selling real estates in Maharashtra.
- Resolving disputes efficiently.
- Protecting customers’ interest in the realty market.
The influence of MahaRERA Act
RERA Act of Maharashtra is the first real estate regulatory body that has created an example for other Indian states to follow. Moreover, violating the guidelines of this act is a punishable offence. Hence, individuals need to learn about MahaRERA to invest securely.
Following are the facilities that are extended to different hierarchies of real estate sector via this act.
To citizens
- Access to all registered projects online
- Facilitate filing complaints against disloyal promoters and real estate agents.
To promoters
- registration of real estate projects
- provision for quarterly upgradation of each project
- Extension of the registered projects
- Filing complaints
To real estate agents
- Registration of real estate agents
- Renewal of the registration
- Filing complaints
MahaRERA registration process
- You need to visit the online website of MahaRERA
- Select the tab “Online Application” from main menu
- Select “New Registration” in login page and register as a new user
- Open “Create new account” tab and select the user type.
- Select own state or UT from drop-down menu
- Duly fill-up the form with a valid contact number and email id.
- A link will be sent to your registered email address
- Complete the verification and activation process by activating the verification link.
- Now login with your username and password.
- Fill-up the necessary details and upload and submit all the documents.
With an increasing number of projects being registered under RERA Maharashtra, the home loan market is reviving as people are borrowing credit to invest in this sector.
