MahaRERA 2024: Key Insights into Maharashtra's Real Estate Regulatory Framework

The Real Estate (Regulation and Development) Act of 2016, commonly known as RERA, was implemented in May 2017 to bring greater transparency and accountability to India’s real estate sector. Each state in India operates its own Real Estate Regulatory Authority (RERA) to oversee real estate activities within its jurisdiction. In Maharashtra, this regulatory body is known as MahaRERA, or the Maharashtra Real Estate Regulatory Authority.

Understanding MahaRERA: Maharashtra’s Real Estate Watchdog

MahaRERA, short for Maharashtra Real Estate Regulatory Authority, is a regulatory body established under the Real Estate (Regulation and Development) Act of 2016. The primary aim of MahaRERA is to regulate and promote the real estate sector in Maharashtra, ensuring transparency, protecting consumer interests, and standardizing business practices. This body holds significant importance in cities like Mumbai, Pune, and Thane, where real estate activities are particularly intense.

MahaRERA’s Role and Services in Maharashtra

MahaRERA's regulatory framework covers a wide range of services that are crucial for the orderly functioning of the real estate market in Maharashtra. Here's a breakdown of the key services provided by MahaRERA:

Eligibility and Registration Criteria for MahaRERA Projects

For a project to be eligible for registration under MahaRERA, it must meet specific criteria outlined by RERA Maharashtra Rules:

Steps to Create a MahaRERA Project

For developers looking to register a project with MahaRERA, the process is straightforward and can be completed online. Here’s how:

Essential Documents for Project Registration

When registering a project with MahaRERA, developers need to provide specific documents:

Project Registration Fees

To complete the registration process, the promoter must pay a registration fee to MahaRERA. Payments can be made via RTGS or NEFT, ensuring a secure and traceable transaction.

Filing a Complaint with MahaRERA

If a homebuyer or developer encounters issues such as fraudulent practices, non-provision of services, or project delays, they can file a complaint with MahaRERA through the following steps:

Latest MahaRERA Updates

Starting April 1, 2024, MahaRERA will launch a doorstep registration service for builders overseeing projects with 50 or more housing units that are registered under MahaRERA. This initiative aims to expedite the registration process, offering greater convenience to developers in cities like Mumbai and Pune. Additionally, RERA branches in Mumbai and other parts of Maharashtra are working on a streamlined process that allows builders and promoters to obtain necessary permissions and certifications without leaving their offices.