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News18
10 hours ago
- Business
- News18
Good News For Homebuyers: MahaRERA Amends Registration Certificates For More Transparency
Last Updated: The certificate will now reflect crucial project specifics, including the total built-up area, name and number of buildings and wings, total number of habitable floors and more. In a major step towards enhancing transparency and empowering homebuyers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to include comprehensive project details in the registration certificates issued to new housing projects. With this, the new certificates will offer essential project information in a simple, bullet-point format for easy reading and better understanding. Until now, the MahaRERA registration certificate only carried basic details such as the project's and promoter's name and address in a single-line format. However, with this new decision, the certificate and its annexure will now reflect crucial project specifics, including the total built-up area, the name and number of buildings and wings, the total number of habitable floors, residential and non-residential units, construction approvals, and available parking for four-wheelers, two-wheelers, and visitors. The decision, which comes into effect immediately, aims to make preliminary information easily accessible for potential homebuyers. In case of any amendments to the project—such as an extension of completion timelines, corrections, or a transfer of the project to another developer—the revised certificate will also reflect the updated information. MahaRERA Chairman Shri Manoj Saunik emphasised the importance of protecting homebuyers' rights, noting that most buyers invest their lifetime savings into purchasing a home. 'To ensure this investment remains safe and secure, MahaRERA is committed to legally empowering the homebuyer. The new registration certificate is a major step forward in providing clear, verified, and detailed project information upfront," he said. He added that these certificates will help guide buyers in making informed decisions by allowing them to verify legal, financial, and technical project details before entering any transaction. 'As part of our commitment, we have already introduced measures such as a Standardised Agreement for Sale, standardised allotment letters, and mandatory disclosure of parking slot dimensions and amenities with delivery timelines. These have set new benchmarks in real estate regulation, and many other States have adopted these practices," he explained. Further, MahaRERA has already made it compulsory to display these certificates at the project site and on the project's website. When users search for a project on the MahaRERA website using the registration number, a link to the certificate will now appear on the first page. Advertisements must also carry a QR code that links directly to key project information for easy access. This forward-looking move is expected to significantly benefit homebuyers by improving transparency, boosting confidence, and making real estate dealings more accountable and secure. First Published: June 09, 2025, 10:09 IST
Hindustan Times
3 days ago
- Business
- Hindustan Times
New MahaRERA registration certificates will contain all vital details of housing project
MUMBAI: In another move to protect homebuyers and ensure transparency in builders' projects, state housing regulator MahaRERA has decided to issue registration certificates that will contain crucial details about housing projects. The information includes the project's total built-up area, the number of wings, buildings and their names, the commencement certificate showing the number of approved habitable floors, the number of residential and non-residential units and the total number of car and bike parking slots along with the developer's name and address. At present, the registration certificate mentions only the builder's name and project address in a single line. In a press release, the housing regulator said that buyers and others could now get all this vital information simply by scanning the certificate. This decision will be applicable with immediate effect for all new projects. During a project's life-cycle, if the builder makes changes to the project, such as seeking a deadline revision or entering into a joint venture or transferring the project to another company, these details will get reflected in the revised MahaRERA certificate issued to him. The press note said that all builders would have to display the certificate at the site as well as on their website. MahaRERA has already asked builders to get a QR code—containing the project's essential preliminary information—along with the project registration number in advertisements across all media. 'Most people invest their lifetime savings in purchasing a property,' said MahaRERA chairman Manoj Saunik. 'To ensure that the investment remains secure, MahaRERA has been striving to protect homebuyers' rights. With this in mind and the potential challenges that may arise in the future, MahaRERA has initiated granting registration numbers of projects only after thorough legal, financial and technical scrutiny. We have also announced non-negotiable provisions related to the Standardised Agreement for Sale as well as the allotment letter, parking and amenities.' Saunik said that through these efforts, MahaRERA aimed to bring in transparency and accountability among real estate's stakeholders. 'We always urge and encourage the homebuyer to understand all these details carefully and verify the legal details prior to making any decision or transaction,' he added.
Time of India
11-05-2025
- Business
- Time of India
Over 7,500 cases pending with Maharashtra RERA
MUMBAI : A home buyer from Kandivli who filed a complaint with Maharashtra Real Estate Regulatory Authority ( MahaRERA ) in July 2023 was called for a hearing only earlier last month. In another instance, home buyers in another Kandivli project are awaiting possession of their homes, despite the Maharashtra Real Estate Appellate Tribunal ( MREAT ) in 2022 directing the promoter to complete construction that was to start in 2010 within a year, and pay interest to home buyers until possession. Home buyers alleged that not a single brick has been laid in the project till date and allottees have been left in the lurch. A large number of complaints have burdened the limited number of MahaRERA benches. Around 7,500 complaints are pending with the authority. Now, the current MahaRERA chairman Manoj Saunik has been working on a war-footing to clear pending complaints by hearing as many as 200 complaints per day. That apart, execution of orders including recovery warrants is a problem area. Advocates said promoters do not adhere to orders and instances of contempt are often witnessed, as regulatory authorities are not exercising their powers including that of prosecution to ensure developers fall in line. Lack of a proper mechanism for effective execution of recovery warrants through district collectors still plagues the system and it is left to home buyers to pursue the revenue authorities for recovery of their money. Even the conciliation system, which witnessed success initially in resolving disputes, now sees fewer complaint resolutions. "In 2022, MREAT had ordered a developer to complete construction of the Kandivli project within a year and hand over possession to allottees. If the builder is not able to complete the project, the allottees can form an association and seek to take over the project. When allottees booked their flats in 2011, the market rate was Rs 7,500 per square foot, it is Rs 25,000 now. Even after a judgment was passed by MREAT, which the developer is bound by and has not even challenged, there is no compliance. An example ought to be set by prosecuting those who do not adhere to judgements, only then will the developers be compelled to fulfil their duties,' said a leading real estate broker, who also pointed out there is an option of ordering for a civil imprisonment and that it should be exercised. Advocate Nilesh Gala, who practises at MahaRERA, said there is a need for systemic changes. "Transfer of ownership of the developer firms or the projects has taken place without the consent of two-third allottees, who have booked with erstwhile promoters. There are also instances of two MahaRERA registration numbers being given for the same project,' Gala alleged, adding a change in the shareholding or ownership of firms of developers should not be allowed, unless they seek an NOC from MahaRERA. Given the pendency of cases, Gala said promoters should be given a deadline of 30 days to file their reply and have sought for an increased number of benches of MahaRERA as well as MREAT. However, Gala added the current chairman has set things in motion and is trying to reduce the pendency of complaints. 'There should be an institutional mechanism for MahaRERA to pursue execution of recovery warrants and the burden should not be on the home buyer,' Gala added. Shirish Deshpande, Chairman of Mumbai Grahak Panchayat, wanted MahaRERA to resume physical hearing or even hybrid hearings. Pointing to fewer complaints being resolved through conciliation, Deshpande said 'Conciliation is a major part of MahaRERA and initially it saw 80 to 90 % success rate, when there was no involvement of advocates. After MahaRERA allowed advocates to join the conciliation process, the success rate has come down to just 30 percent.' Referring to another problem area in the functioning of MahaRERA, Deshpande said that 'MahaRERA does not hear complaints of redevelopment projects. However, the definition of "allottee" in real estate projects covers those who are part of redevelopment or SRA projects.'
Time of India
11-05-2025
- Business
- Time of India
7,500 cases pending at MahaRERA; systemic changes needed, say legal experts
MUMBAI: A home buyer from Kandivli who filed a complaint with Maharashtra Real Estate Regulatory Authority (MahaRERA) in July 2023 was called for a hearing only earlier last month. In another instance, home buyers in another Kandivli project are awaiting possession of their homes, despite the Maharashtra Real Estate Appellate Tribunal (MREAT) in 2022 directing the promoter to complete construction that was to start in 2010 within a year, and pay interest to home buyers until possession. Operation Sindoor Amid flare-up hours after thaw, officials say things will settle down with time Ceasefire on, but pressure stays: Key decisions by India against Pak that still stand 'Will work with India & Pakistan to seek solution on Kashmir': Trump Home buyers alleged that not a single brick has been laid in the project till date and allottees have been left in the lurch. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai A large number of complaints have burdened the limited number of MahaRERA benches. Around 7,500 complaints are pending with the authority. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your Finger Shape Says a Lot About Your Personality, Read Now Tips and Tricks Undo Now, the current MahaRERA chairman Manoj Saunik has been working on a war-footing to clear pending complaints by hearing as many as 200 complaints per day. That apart, execution of orders including recovery warrants is a problem area. Advocates said promoters do not adhere to orders and instances of contempt are often witnessed, as regulatory authorities are not exercising their powers including that of prosecution to ensure developers fall in line. Lack of a proper mechanism for effective execution of recovery warrants through district collectors still plagues the system and it is left to home buyers to pursue the revenue authorities for recovery of their money. Even the conciliation system, which witnessed success initially in resolving disputes, now sees fewer complaint resolutions. "In 2022, MREAT had ordered a developer to complete construction of the Kandivli project within a year and hand over possession to allottees. If the builder is not able to complete the project, the allottees can form an association and seek to take over the project. When allottees booked their flats in 2011, the market rate was Rs 7,500 per square foot, it is Rs 25,000 now. Even after a judgment was passed by MREAT, which the developer is bound by and has not even challenged, there is no compliance. An example ought to be set by prosecuting those who do not adhere to judgements, only then will the developers be compelled to fulfil their duties,' said a leading real estate broker, who also pointed out there is an option of ordering for a civil imprisonment and that it should be exercised. Advocate Nilesh Gala, who practises at MahaRERA, said there is a need for systemic changes. "Transfer of ownership of the developer firms or the projects has taken place without the consent of two-third allottees, who have booked with erstwhile promoters. There are also instances of two MahaRERA registration numbers being given for the same project,' Gala alleged, adding a change in the shareholding or ownership of firms of developers should not be allowed, unless they seek an NOC from MahaRERA. Given the pendency of cases, Gala said promoters should be given a deadline of 30 days to file their reply and have sought for an increased number of benches of MahaRERA as well as MREAT. However, Gala added the current chairman has set things in motion and is trying to reduce the pendency of complaints. 'There should be an institutional mechanism for MahaRERA to pursue execution of recovery warrants and the burden should not be on the home buyer,' Gala added. Shirish Deshpande, Chairman of Mumbai Grahak Panchayat, wanted MahaRERA to resume physical hearing or even hybrid hearings. Pointing to fewer complaints being resolved through conciliation, Deshpande said 'Conciliation is a major part of MahaRERA and initially it saw 80 to 90 % success rate, when there was no involvement of advocates. After MahaRERA allowed advocates to join the conciliation process, the success rate has come down to just 30 percent.' Referring to another problem area in the functioning of MahaRERA, Deshpande said that 'MahaRERA does not hear complaints of redevelopment projects. However, the definition of "allottee" in real estate projects covers those who are part of redevelopment or SRA projects.' Get the latest lifestyle updates on Times of India, along with Mother's Day wishes , messages , and quotes !
Hindustan Times
09-05-2025
- Business
- Hindustan Times
Over 50,000 housing projects registered with MahaRERA; highest in India
Mumbai: With the Maharashtra Real Estate Regulatory Authority (MahaRERA) recently completing seven years of establishment, the total number of housing projects registered hit the 50,000 mark. Maharashtra becomes the only state in India to cross the 50,000 registered residential projects mark. This accounts for over one-third or about 35% of the total housing projects in India. According to the statistics given by the Ministry of Housing and Urban Affairs, a total of 1,44,617 housing projects have been approved by all the RERA bodies in India. At present, a total of 50,162 housing projects are registered with the housing regulator in Maharashtra with Tamil Nadu at the second highest with 27,609 projects, followed by Gujarat with 15,322 projects. 'Until a few years ago, the real estate sector, which was largely limited to the Mumbai Metropolitan Region or Pune region, but now it is expanding all across the state. The consistent increase in the demand for houses across Maharashtra is an indicator of the state's social and economic development,' said Manoj Saunik, chairman, MahaRERA. Of the total 50,162 projects in Maharashtra, 12,788 housing projects are in Pune district, 6,746 in Thane district, 5,907 in Mumbai suburbs and 5,360 in Raigad district. Konkan region, which includes the Mumbai Metropolitan Region (MMR), has the highest number of residential projects standing at 23,770 followed by 4,621 in North Maharashtra, 2,764 in Nagpur area, 1,886 in Chhatrapati Sambhajinagar region and 957 in Amravati region. MahaRERA was established in May 2017 to regulate the real estate sector in the state. Maharashtra was the first state to set up the regulatory authority under the Real Estate (Regulation and Development) Act, 2016. On May 1, MahaRERA celebrated its seventh anniversary of formation.
