MahaRERA website to feature complaints about projects & promoters

From Saturday, homebuyers may access information on project and developer lawsuits on the MahaRERA website (i.e., February 19, 2022). Maharashtra Real Estate Regulatory Authority officials remarked. This information might aid homeowners in making an informed decision before investing in the project. According to the statement, 16,000 project and developer-related cases acquired by MahaRERA would be featured on the website.

The MahaRERA website’s project records may allow clients to see the total number and status of lawsuits filed on initiatives, as well as the number of non-compliance requests and other information. At the same time, information about promoters might be valuable to customers.

According to MahaRERA chairperson Ajoy Mehta, there has been an increasing demand for this information from homebuyers. Homebuyers believe it will aid them in making an informed decision about a certain project. All of this information will be available in a separate session later this week. Details on the activities and promoters will be available next week on the website’s main page.

Greater transparency- Records relating to project cases are now available to complainants and concerned developers. Within the public domain, only the very latest orders are available. The real estate (Regulation and Development) Act 2016, which takes effect on May 1, 2017, aims to ensure that transactions between developers and domestic clients are governed according to efficiency, transparency, and accountability standards.

“The new option is a move in the direction of increased openness,” said Ramesh Prabhu, head of the Maharashtra Society Welfare Association. The buyer should have access to all project documents. Homebuyers can learn about initiatives and developers’ reputations.”

According to Sunil Furde, president of the State Credai (Confederation of Real Estate Developers Associations of India), the transaction may definitely benefit homeowners because they would receive all of the necessary data.

Source: MahaRERA

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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