The Real Estate (Regulation and Development) Act of 2016 was enacted in May 2017, with a focus on regulating the real estate industry in India. All the states in India have their own RERA authority responsible for overseeing the real estate sector within its boundaries.
The Real Estate Regulatory Authority (RERA) is crucial for ensuring transparency and accountability in the real estate sector. In Maharashtra, this regulatory body is known as MahaRERA, meaning Maharashtra Real Estate Regulatory Authority.
What is MahaRERA?
MahaRERA stands for Maharashtra Real Estate Regulatory Authority, is a regulatory body established to supervise the real estate sector in Maharashtra. MahaRERA operated under the Real Estate (Regulation and Development) Act of 2016, commonly known as RERA.
Services Provided by MahaRERA in Maharashtra:
Applicability:
MahaRERA’s regulatory jurisdiction covers all real estate projects in RERA Maharashtra, encompassing both residential and commercial properties.Registration:
Every real estate project in Maharashtra, whether existing or new, is required to undergo mandatory registration with MahaRERA.Grievance Redressal:
MahaRERA ensures an effective system for addressing grievances, empowering homebuyers to file complaints against developers and vice versa.Penalties and Fines:
Compliance with RERA regulations is paramount, as MahaRERA has the authority to impose legal penalties.Dispute Resolution:
MahaRERA’s efficient mechanism for resolving disputes aims to address conflicts between buyers and developers promptly.
RERA Maharashtra Eligibility:
According to RERA Maharashtra Rules, real estate MahaRERA project details must meet specific criteria for registration:
- Prior to advertising or selling, every project must complete RERA registration.
- RERA registration is mandatory for land exceeding 500 square metres.
- Projects with land dimensions below 500 square metres or intending to construct fewer than 8 apartments (across all phases) are exempt from RERA registration.
Creating a MahaRERA Project:
- Access the Maharashtra RERA website and the ‘Online Application’ section of the website.
- New users must opt for ‘New Registration’.
- Homebuyers can establish a new account by specifying the user type.
- From the drop-down menu, select the applicable state or UT. Users may fill in the fields, providing details such as username, phone number, and email address. Click ‘Create User.’
- Validate credentials by clicking the verification link sent to the registered email.
- Log in with the new credentials on the Maharashtra RERA website.
- Enter the necessary details for the MahaRERA project and upload the required documentation.
Documents for Project Registration:
- For Individuals (Promoters): Provide details such as name, address, phone number, and a photograph.
- For Corporations or Partnerships (Promoters): Provide an approved building plan, layouts, ownership/lease/development agreement, RERA bank account details, Form 01 from architects, Form 02 from structural engineers, and Form 03 from CAs.
- Promoter’s PAN card copies and details of individuals in management for entities.
Project Registration Fee:
To register a project with RERA, the promoter needs to pay a registration fee to RERA in Maharashtra. The payment is made through RTGS or NEFT.
Filing a Complaint with MahaRERA:
To file a complaint against a fraudulent real estate developer or in case of service non-provision or project delays, follow these streamlined steps on the MahaRERA web portal:
- Log in at RERA Maharashtra official website to create a Username and Password.
- Navigate to the ‘New Registration’ tab.
- Fill in the state, username, password, user type, mobile number, email ID, and captcha.
- Log in with the new credentials (MahaRERA Login with the MahaRERA registration number).
- Access ‘Accounts’ and proceed to the ‘My Profile’ tab to input personal details.
- Go to the ‘Complaint Details’ tab, then ‘Add New Complaints’ to fill in specifics.
- Upload the necessary documents and the declaration in the next step.
- After completing the complaint, proceed to the online payment tab, available for both online and offline modes.
Latest Update of RERA Maharashtra:
Starting April 1, 2024, MahaRERA is launching a doorstep registration service for builders overseeing projects with 50 or more housing units that are MahaRERA-registered projects. This initiative aims to speed up the registration process.
RERA Mumbai and other RERA Maharashtra branches are working on a process for builders and promoters to get the required permissions and certifications without leaving their offices.
Conclusion
Through MahaRERA’s strong regulatory framework, which includes oversight of both ongoing and upcoming projects, MahaRERA guarantees a fair and secure environment for developers and homebuyers alike. Homebuyers looking for residential projects in Mumbai’s desirable neighbourhoods may consider exploring the offerings from Piramal Realty. Its opulent homes, equipped with top-notch amenities, demonstrate a dedication to excellence. Contact today for an online tour of the properties through Piramal Realty.
Disclaimer- This article is based on the information publicly available for general use as well as reference links mentioned herein. We do not claim any responsibility regarding the genuineness of the same. The information provided herein does not, and is not intended to, constitute legal advice; instead, it is for general informational purposes only. We expressly disclaim /disown any liability, which may arise due to any decision taken by any person/s basis the article hereof. Readers should obtain separate advice with respect to any particular information provided herein.
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