MahaRERA celebrates its 1st anniversary today

ST Correspondent
Monday, 30 April 2018

Pune: Even a year after its implementation, the RERA (Regulation and Development) Act, 2016 seems to be far from creating the connect as 74 per cent of desired home buyers still don't know how to check if their projects are registered under this Act, revealed a Magicbricks consumer choice poll.  

Pune: Even a year after its implementation, the RERA (Regulation and Development) Act, 2016 seems to be far from creating the connect as 74 per cent of desired home buyers still don't know how to check if their projects are registered under this Act, revealed a Magicbricks consumer choice poll.  

However, on completion of one year, the conciliation forum – formed under section 32(G) of the Real Estate (Regulation and Development) Act, 2016 by MahaRERA with a joint collaboration with  Mumbai Grahak Panchayat, CREDAI-Maharashtra,  Maharashtra Chamber of Housing Industry (MCHI-CREDAI) and National Real Estate Development Council (NAREDCO) have organised a function to celebrate the first anniversary of MahaRERA on May 1. 

Maharashtra was the first state in India to commence online registration of new and on-going real estate projects on the intervening night of May 1, 2017.  

In last nine months, MahaRERA has disposed of 1,168 complaints. Out of 90 appeals, 71 have already been disposed of. The conciliation forum has so far handled 45 complaints and amicably resolved 31 in last three months. The proceedings will debate the way ahead under RERA regulatory regime with a view to protecting consumers’ interest and at the same time promoting the sustainable growth of real estate sector in the state.

Union Housing and Urban Affairs Minister of State (Independent charge) Hardeep Singh Puri and Chief Minister Devendra Fadnavis will be present at the event. The programme will also include panel discussions on housing, finance and legal issues related to RERA by the experts in these fields. 

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