Mumbai currently holds the largest property market across India. Its real estate industry received further boost with the introduction of MahaRERA. While this Act was introduced to ensure the financial safety of potential homebuyers, it also brought with it multiple benefits for real estate agents – For Prospective Home Buyers Transparency regarding a project in question – Under the RERA Act in Maharashtra, a prospective … Continue reading What Is The Importance Of MahaRERA For The Real Estate Sector In Maharashtra?
The RERA (Real Estate Regulatory Authority) was passed by the Parliament of India in May 2016, to facilitate transparency in the real estate sector of the country. The act aims to benefit home buyers, builders, developers, brokers, and stakeholders.
RERA Act functions in every state of India, each having its separate regulatory body, such as RERA Delhi, RERA Punjab, RERA Karnataka, and so on. The equivalent existing in Maharashtra is MahaRERA Act.
RERA Act Motives
As per the Real Estate Act 2016, every developers and builder must follow certain guidelines and rules in favour of the home buyers. This has been done to protect the interests of the buyers and also to boost the real estate sector. Under the RERA act different states has to follow the policies regarding the real estate projects. One such state is Maharashtra and their … Continue reading What You Must Know About The Focus Of MahaRERA?