MahaRERA and Real Estate Projects In Maharashtra.

MahaRERA

MahaRERA, or Maharashtra Real Estate Regulatory Authority is the regulatory body for developing and registering real estate projects in Maharashtra. It is formulated for regulating the real estate sector of Maharashtra protecting the interest of the investors in terms of transparency, accountability, and non-biased trade practices for promoters, agents & residential buyers. It ensures the timely completion of the project and offers a complaint redressal cell in case of not meeting the terms and conditions of the agreement.

Responsibilities of MahaRERA

1. Registration of New Real Estate Projects.
2. Registration of Real Estate Agents.
3. Assigning the valid RERA ID.
4. Disclosures of Real Estate Projects by Promoters.
5. Project Extension and Complaints Redressal.

The official website of MahaRERA login is https://maharera.mahaonline.gov.in/.

How to Check RERA Registered Projects Details Online in Maharashtra?

• Open https://maharera.mahaonline.gov.in/
• Click the ‘Registration’ tab, then click ‘Registered Projects.’ The external website opens in the new window.
• In search project details select registered projects.
• Type the promoter’s name or its registration/certificate number. The other way is to click on “View all projects on Map”. By exploring the map you can get the certificate number.
• After entering the certificate number, click on the “search” tab. You will see the projects along with some details. Click “View” and see details of the project including ongoing status, type, locality, and proposed completion date.

Searching for Real Estate Agents

Before trusting any real estate agent in Maharashtra, it is highly recommended to check their verification and registration under the official website of MahaRERA.

The steps are as follows:-

1. Sign in by entering the details or registering as a new user.
2. Under search project details click “Registered Agents”.
3. Fill in the details, including “Agent Name” and Agent Registration Number.
4. Click “Search” and see the result.

How to check expired projects under MahaRERA?

These are some of the registered projects that later expired due to some non-compliance. When this happens, MahaRERA prohibits the developer from conducting any buying or selling of the projects.

How to check the expired projects falling under the category of commercial and residential space?

1. Open maharera.mahaonline.gov.in
2. Go to “Lapsed Projects” under the Registration section.
3. The list of expired projects in different years is shown to the customer under MahaRERA database.

Let’s look at some cases where projects are not required to be registered under MahaRERA

• Real estate project where the area of the land is not more than 500 sq m
• Where the promoter has received the completion certificate before the commencement of the MahaRERA Act.
• In case of redevelopment of the project and renovation as it does not require any marketing or allotment.

CONCLUSION

MahaRERA is the best way to get all the relevant information about trustworthy agents and developers in housing as well as commercial space in the real estate segment. Its significance outlines the defect liability period and which means rectifying the defects in reference to quality control for the home buyers. It’s been effected for five years from the date of possession of the property.

For making reliable decisions about investing in Maharashtra by safeguarding your interest this is the best government portal to get true insights about the current status of the various property listings. Tight rules for quality compensation makes builder liable to make use of the best building material. Also, the developers have to update the report twice a year. The government’s sincere efforts to display most information in front of their true buyers include past experience and developments of the builder, floor space index(FDI), project professionals, litigation details, and bank details. Its rich database shows diversified properties located in different cities of Maharashtra. It shows the deadlines and practices the complete control over the developers and agents for delivering the true output to the buyers.

Starting on October 1, 2023, MahaRERA has introduced grading the projects in terms of legal, technical, and financial parameters. MahaRERA’s IT Solution MahaCRITI will be responsible for grading the projects and helping the buyers to make more fruitful decisions. With consistent improvement in their services and a constant urge to deliver the maximum impartial results to the state, the regulatory body has performed exponentially well.