Maharashtra was the first state to adopt the Real Estate (Regulation and Development) Act. It also has one of the most comprehensive and updated RERA websites.
Ever since the state formed the authority, several homebuyers have registered their complaints against builders. Interestingly, the authority has also been swift in addressing these complaints.
In its endeavour to improve further, the MahaRERA authority announced three major updates last week. In this article, we take a look at those and see how it will benefit the consumers.
15 conciliation teams to be formed to address homebuyers’ complaints
As mentioned, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has received several complaints from homebuyers over the last few months. To create a filter, the authority has now decided to form 15 conciliation teams that will represent homebuyers. These teams will comprise of two members each, one from the realty developers’ industry body, and another from consumer forums.
This body can be approached by both home buyers and developers to reach a consensus. If there is no consensus, homebuyers will have the option to lodge a formal complaint against the builder in MahaRERA.
Of these, 10 conciliation teams will be in charge of the Mumbai Metropolitan Region (MMR) while the rest five will be dedicated for Pune.
Co-promoter to be known as promoter
In another major announcement last week, MahaRERA made it clear that landowners getting a share of the total revenue from the sale of apartments or a project marketed will be treated as promoters.
The order stated that a landowner would be accountable as a developer if he has taken the area of a project and not cost.
A circular dated November 4 stated that for the case of filing online registration application and for the benefit of consumer it was necessary to distinguish and/or identify whether such Promoter is the landowner, investor or is the one who has actually obtained/ obtaining the building permissions for carrying out the construction and has been/ is, in fact, carrying out construction.
Accordingly, about 4,346 projects have already been registered with such landowners/ investors as co-promoters. They shall now be known as promoters.
MahaRERA directs two developers to meet possession deadlines
The Maharashtra Real Estate Regulatory Authority has asked Pune-based Kumar Builders and Mumbai-based Ekta Parksville to advance their possession deadlines and directed Adani Estates and Nandraj Developers to deliver possession on promised deadlines.
Citing Rule 4(2) of Maharashtra Real Estate Rules that states that the possession date should be commensurate with the extent of development work pending, Gautam Chatterjee, Chairman, MahaRERA, ruled that the developer should hand over possession of the apartment before July 2018 and directed that if he fails, he would be liable to pay interest.
