Maharashtra’s realty sector is among the most prominent employment sources along with contributing significantly to the state’s GDP.
Consequently, with an aim to make this sector more organised and buyer-friendly, RERA Maharashtra, better known as MahaRERA, was set up.
The real estate regulatory authority set up under the MahaRERA Act has issued mandatory registration requirements for all residential and commercial projects wherein the land’s area exceeds 500 sq. metres. Thus, it would not be possible to book, market, offer or advertise a property with no registration yet.
Promoters are also required to state an estimated time for project completion during registration under this RERA Act. In case the project is not completed within this time, they will need to pay interest on the total amount paid by the buyer for every month of delay.
Complaint filing procedure
- Property buyers should follow the steps given below to register a complaint under RERA Maharashtra -
- Visit the official website of MahaRERA.
- On the login page, click on the ‘New Registration’ option.
- Select user type ‘Complainant’ from the options given.
- Enter other details which are required to create a login ID.
- Log in using your credentials to access your user profile.
- Click on ‘Add New Complaint’.
- Proceed to complete complaint addition with proper explanation as well as the required documents to evidence such a complaint.
After entering all the details and submitting all required documents, click on ‘Confirm and Proceed’ to make payment and complete registration.
Thus, the procedure of buying a home has become much easier with the implementation of MahaRERA. Since all projects have to be registered with the regulatory body, buyers can access all details such as prices, location, completion date, etc. on the official website. It is thus quite critical that you know about the RERA Act in Maharashtra well before buying a property.
A property registered with the regulatory body also qualifies as a suitable mortgage when availing a home loan for house purchase.
Read Also: Rera Maharashtra: Know About All the Details
