Here Are Some Frequently Asked Questions
Its objective is to reform the real estate sector in India, encouraging greater transparency, citizen centricity, accountability and financial discipline.
RERA introduces standardized agreements between homebuyers and developers, ensuring fairness and protecting consumers' rights.
Maha RERA registration is mandatory for every residential and commercial project.
Penalties for Non-compliance under the Section 61 of the Real Estate (Regulation & Development) Act, 2016 that makes the defaulter liable to a penalty of up to 5% of the estimated project cost.
Visit the official website of Maharashtra RERA https://maharerait.mahaonline.gov.in/. You will see the list of projects list of the properties registered in Maharashtra. Can also type the name of a particular property and check whether the property is registered under RERA or not.
Facilitate resolution of disputes amicably, thereby saving cost and time of litigation to parties and state.
The fee for filing a complaint with RERA in Maharashtra against builders is Rs. 5000.
RERA registration typically takes 30-60 days after all required documents and fees are submitted.
The RERA certificate: Increases the credibility of the builder.
The RERA Authority's primary function is to offer buyers relief by quickly resolving disputes. The Authority is also in charge of enforcing industry accountability and transparency.
RERA creates a regulatory body, mandates the registration of real estate projects for home buyer’s interests, and specifies rules for the sale and acquisition of properties.
It is mandatory for every residential and commercial project to be registered under MahaRERA
"RERA Bank Account" means the separate bank account to be maintained by the promoter in a scheduled bank in the local branch where the project is going on.
The RERA Act permits the homebuyer, otherwise known as an allottee, to withdraw from the real estate agreement, whether or not the developer is at default.
All projects must be registered under the RERA Act. If a builder tries to sell or market an unregistered project, a buyer might submit a complaint against the developer or builder.