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Representatives of six states of the government, including Uttar Pradesh, Goa, Telangana, Chhattisgarh, Gujarat and Karnataka have approached the Maharashtra Real Estate Regulatory Authority (MahaRERA), seeking a detailed guideline regarding the implementation of RERA norms in their states. RERA was implemented a few years back, in order to bring a greater transparency in the real estate industry. Presently, RERA in Maharashtra has carried out a good work, implementing several regulatory policies. This will protect the interests of both buyers and sellers, ensuring that the property owners no longer live at the mercy of the developers. If you are interested in purchasing the best properties in India, you can have a look at the upcoming projects in the real estate portals.
Vasant Prabhu, secretary of the Maharashtra Real Estate Regulatory Authority, has stated that the representatives of the other states had held discussions with the officials of MahaRERA. It has been decided that a workshop will be held for the representatives of these states on 10th September at the Yashwantrao Chavan Academy of Development Administration. Here, the regulatory body will showcase their working mechanism to the other states. This meeting would be attended by Hardeep S Puri, the minister of housing and urban affairs. Homeowners interested in purchasing property in the key cities can check out the India property online and customize the properties.
Till date, more than 17,000 projects have been registered with RERA in Maharashtra. The other states are coming into scrutiny, inviting flak from the Union government due to their failure to implement RERA. According to Prabhu, the past two years have witnessed the registration of more than 17,000 real estate projects. It has also issued various other orders, primarily for the delay in completing the projects. This has restored the trust among the customers in the real estate industry and reduced fraudulent activities in the industry to a great extent.
The ratio of addressing grievances and registration is greater in Maharashtra than other states of the country. An official of the housing department of the state has stated that their model has turned out to be effective. He also added that the developments taking place in the real estate industry in Maharashtra are being monitored by MahaRERA and the developers need to display their registration numbers in the advertisements of their projects. At the primary level, over 80% of the buyers are being addressed.
Shantilal Kataria, president of the Confederation of Real Estate Developers' Association of India (Credai), Maharashtra, stated that other states would like to get an idea about the working procedure of RERA in Maharashtra. The authority deserves several credits in a short span of two years. An additional attraction should be the software used to put up the necessary details in the website of MahaRERA. According to a recent report, Maharashtra is placed in the first position in terms of implementation of RERA, its integration and implementation. Other states that have implemented RERA include Gujrat, Madhya Pradesh and Uttar Pradesh. Homeowners interested in investing in new property in India can pick from a wide range of options in the real estate websites.
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