Real Estate Agents in Maharashtra to Obtain Certificate of Competency from MahaRERA
In an effort to improve compliance and transparency in the real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has mandated that all registered real estate agents in the state obtain a MahaRERA Real Estate Agent Certificate of Competency. This initiative aims to ensure that agents are well-versed in the provisions of the RERA […]
MahaRERA clears 323 project registration applications in three months
The MahaRERA cleared 323 of the total 1,100 project registration applications in the last three months following due verification by the respective local bodies.A majority of the applications cleared (117) was from Pune district, followed by Raigad (52), Thane (48) and Mumbai suburban (35). From June 19, the Maharashtra Real Estate Regulatory Authority (MahaRERA) started […]
MahaRERA freezes bank account of developer, restricts sales in South Mumbai project
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ordered freezing of the bank account of a developer created for an over Rs 100-crore real estate project in south Mumbai. The redevelopment project has been delayed for a decade now. The MahaRERA has restricted further sales or creating any third-party interest in the project and has […]
MahaRERA asks realty developers to set up redressal cells for homebuyers’ issues
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has asked realty developers to set up grievance redressal cells to address complaints of their homebuyers.These cells for the developers’ projects are expected to have at least one grievance redressal officer. Compliance with this provision will be an important criterion in the proposed evaluation of projects by the […]
MahaRERA To Strengthen Its Compliance Cell
The Maharashtra Real Estate Regulatory Authority (MahaRERA) will take assistance from an organisation to strengthen its compliance cell for more effective micro-monitoring of housing and commercial projects. To make the compliance cell more efficient and effective, the regulator will be seeking “present and true status” of maximum projects with supplementary photographs and necessary reports from […]
MahaRERA inspects over 125 project sites worth Rs 2,000 cr for suspected irregularities
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has carried out inspections of over 125 real estate projects worth over Rs 2,000 crore over suspected financial irregularities being seen in the information provided to MahaRERA by the developers, senior MahaRERA officials told Moneycontrol.The inspection was carried out where significant amounts had been spent from the receivables […]
MahaRera issues notices to 563 bldrs for non-compliance
The MahaRera has issued show-cause notices to as many as 563 developers for not submitting quarterly progress report (QPR), which has details such as the number of apartments booked, the amounts received the allottees and list of approvals obtained, among others. In May this year, the MahaRera had issued a show-cause notice about quarterly project […]
After 9 warrants, MahaRERA recovers Rs 9 crore from developers
About Rs 9 crore, which was due to home buyers as compensation and refunds from five developers, was recovered without going through the auction process after MahaRERA issued warrants for the same. The MahaRERA had issued nine warrants in Mumbai city, suburbs and Pune district to recover Rs 8.72 crore. According to MahaRERA officials, the […]