Tag: maharera

Complaints that MahaRERA receive are of various nature, such as, building’s beam obstructing parking of vehicle, vehicle cannot be parked in the parking, vehicle door cannot be opened to exit, manoeuvring space inadequate, etc.

Mumbai: Several complaints have been received by the Maharashtra RealEstate Regulatory Authority (MahaRERA) with regards to parking spaces sold and allocated by the developers. Taking serious cognizance of this and to prevent a recurrence, the housing regulator has made it mandatory to include all details related to parking as part of annexures to the Allotment Letter and Agreement for Sale.

The complaints that MahaRERA receive are of various nature, such as, building’s beam obstructing parking of vehicle, vehicle cannot be parked in the parking, vehicle door cannot be opened to exit, maneuvering space inadequate, etc.

MahaRERA has issued a model draft clause as per of circular’s annexure, to be included in the legal documents, which includes all the details regarding the parking lot number, parking length, height, width, location of the parking block, etc. in the building. This
standard clause is to prevent any ambiguity or disputes at a later stage and is mandatory for promoter to annex this with Allotment letter and Agreement for Sale.

Details of model agreement for sale, issued in december 2022

In the Model Agreement for Sale, issued in December 2022, mention of Force Majeure, Carpet Area, Defect Liability Period and Transfer Agreement have been made mandatory in every agreement for sale. Now, parking in another aspect that has been made non-negotiable and any changes made despite the consent of a homebuyer, will not be accepted by MahaRERA.

Therefore, MahaRERA insists on strict adherence to the circular and the standard draft clause stating complete details about a parking slot. This will prevent any inconvenience and agony over parking premises that a homebuyer otherwise faces after moving into a new residence.

MahaRERA’S project grading system aims to empower homebuyers with transparent insights into real estate projects

The Maharashtra Real Estate Regulatory Authority (MahaRERA) had suggested last year, a project grading system in order to help homebuyers make an informed decision. That plan may soon see the light of the day, as MahaRERA is expected to launch the grading system soon.

The grading will be based on four key parameters—technical, financial, legal, and project overview; and will evaluate projects every six months in a bid to keep homebuyers aligned with the construction progress. As a part of this process, all projects launched from January 2023 onwards will be graded.

However, since this is still a pilot project, MahaRERA is expected to first provide project information/analysis without assigning a grade to the project. This information would enable homebuyers to evaluate if the project is on the right track; the actual grades could take a few more years to be rolled out.

Industry experts, however, also feel that a few more parameters should be taken into account in order to provide a holistic overview.

Some of the key parameters are as follows:

Construction Quality: Assessing the track record of the developer in terms of construction quality, materials used, and adherence to building codes and regulations.

Environmental and Sustainability Factors: Considering the project’s impact on the environment, its compliance with sustainability standards, and the incorporation of energy-efficient measures, waste management systems, and green building practices.

Track Record of Developer: Assessing the reputation and past performance of the developer, including timely completion of previous projects, compliance with regulatory norms, financial stability, and adherence to customer commitments.

Customer Feedback: Incorporating feedback from existing customers of the developer or similar projects to assess customer satisfaction, and after-sales service, and address any potential issues.

– Ritesh Mehta, senior director and head (North and West), residential services and developer initiative, JLL India

Promptly updating grades assigned to each project on MahaRERA’s website, explaining how each parameter is assessed and graded, ensuring that the website’s interface is user-friendly enabling homebuyers to check grades with ease, and an effective feedback mechanism for homebuyers to raise concerns or grievances related to project evaluations should be implemented to make this grading system more robust and effective. Additionally, engaging competent third-party agencies for these audits will make them more authentic,” adds Ravi Shankar Singh, managing director, of residential transaction services, at Colliers India.

“MahaRERA could also take initiatives to educate buyers on how to interpret these grades and reports, helping them understand what these evaluations mean for their investment. There should also be a clear and fair process for developers to appeal their grades if they believe the evaluation was not accurate or fair. MahaRERA could consider incentives for projects that achieve high grades, such as faster approval processes or recognition in MahaRERA publications, to encourage quality and compliance,” suggests Prashant Sharma, president, NAREDCO Maharashtra.

Developers are optimistic about this move, however, there are a few concerns, “The process of information seeking from developers for this rating should be minimalistic in its philosophy, as developers are already providing a vast amount of data for RERA registration. An ideal way would be to integrate the data requirement in one place rather than two separate data requirements. It should also be mandatory for every developer to display the project rating prominently along with the RERA registration number,” suggests Harmohan Sahni, CEO, Raymond Realty. “Overall, the sector will benefit from this proactive approach, which fosters responsible practices and builds trust between buyers and developers,” concludes Manju Yagnik, senior vice president, NAREDCO Maharashtra.

The Maharashtra Real Estate Regulatory Authority’s (MahaRERA) strict action against erring developers violating RERA rules have resulted in developers filing the quarterly progress reports (QPR) on the MahaRERA portal on their own, the authority said in a statement.

The quarterly progress report (QPR) provides quarterly updates on project status to home buyers and prospective investors about the way the project will be developed. It is imperative that all developers registered under the RERA update the QPR on time. However, even after notices on strict actions, a sizable number of developers don’t update their QPR page on the MahaRERA portal.

The MahaRERA had taken stringent action against developers including serving notices on suspending their projects in January 2023 when the ratio was 2 out of 746 developers (0.03%) complying with MahaRERA. In June 2023, the number improved with 333 out of 633 developers (52.6%) following the rules mentioned under the RERA Act and filing QPRs on time.

“In order to closely and effectively monitor these regulatory provisions, MahaRERA has implemented a financial quarter-based project progress reporting system from the first quarter of the projects registered from January 2023. MahaRERA has also taken action to suspend direct registration of projects that do not submit quarterly forms,” mentioned Ajoy Mehta, chairman, MahaRERA, according to media reports.

In a significant move towards enhancing transparency and accountability in the real estate sector, the Maharashtra Real Estate Regulatory Authority (MAHARERA) has entered into a collaboration with the Advertising Standards Council of India (ASCI). The partnership aims to identify and address non-compliance issues among real estate developers, reinforcing regulatory measures and ensuring adherence to established standards.

The collaboration between MAHARERA and ASCI is designed to scrutinize advertising content and promotional materials used by real estate developers. By leveraging ASCI’s expertise in advertising standards, the initiative seeks to identify instances of non-compliance with regulations and ethical standards within the real estate advertising space.

The partnership is expected to empower regulatory authorities to take corrective actions against developers found in violation of advertising norms. This proactive approach aligns with MAHARERA’s commitment to creating a fair and transparent real estate market by holding developers accountable for accurate and responsible advertising.

As the real estate sector continues to evolve, the collaboration with ASCI provides a mechanism to ensure that consumers receive accurate and reliable information about property offerings. The initiative also contributes to the overall credibility of the real estate industry by addressing concerns related to misleading advertising and promoting a culture of responsible marketing practices.

Stakeholders, including homebuyers, real estate developers, and industry observers, will closely monitor the outcomes of this collaboration and the impact it has on promoting transparency in the real estate advertising domain. MAHARERA’s partnership with ASCI is a noteworthy step in enhancing consumer protection and reinforcing ethical standards within the real estate sector in Maharashtra.

Source: https://www.constructionworld.in/latest-construction-news/real-estate-news/maharera-collabs-with-asci-to-identify-non-compliant-real-estate-developers/51155

In a significant move, Maharashtra Real Estate Regulatory Authority (MaharERA) has streamlined the registration process for builders with over 50 housing units. The initiative aims to simplify the administrative procedures, making it more convenient for large-scale developers to comply with regulations.

Under the new guidelines, builders overseeing projects with more than 50 housing units can now complete their registration at their doorstep, eliminating unnecessary bureaucratic hurdles. This progressive step by MaharERA aligns with the government’s ongoing efforts to promote transparency and efficiency in the real estate sector.

The simplification of the registration process is expected to benefit both builders and homebuyers. Builders will experience a more streamlined and efficient registration, saving time and resources. On the other hand, homebuyers can anticipate quicker approvals and enhanced accountability from developers.

This move comes at a crucial time for the real estate industry, as it navigates challenges and adapts to changing market dynamics. By reducing bureaucratic complexities, MaharERA aims to boost the overall growth of the sector, attracting more investments and fostering a conducive environment for real estate development.

Source: https://www.constructionworld.in/latest-construction-news/real-estate-news/maharera-simplifies-registration-process/50975

In a move to enhance transparency and efficiency in the real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) is gearing up to launch its new regulatory portal, MahaRERA Complaint and Regulatory Integrated Technology Implementation (MahaRERA CRITI), in February 2024. The upgraded website aims to simplify the home purchasing process for both homebuyers and developers, offering a more user-friendly experience.

Streamlined Grievance Redressal:

MahaRERA CRITI will facilitate easy navigation for users, providing a streamlined grievance redressal process. The portal will include a dedicated section called ‘project health summary,’ offering critical project-related information, including the current status, to existing and potential customers. This feature aims to enhance transparency in ongoing projects.

Efficient Document Upload for Developers:

The new platform will also simplify the document submission process for developers, who are required to file quarterly reports (Forms 1, 2, and 3) and an annual report (Form 5). This enhancement is expected to make the submission of statutory information smoother and more efficient.

Temporary Unavailability of Current Website:

During the transition to the new system, the current MahaRERA website, which has been operational for five years since the implementation of the RERA Act in the state, will be temporarily unavailable for a brief period due to technical reasons.

Improved User Experience:

The initiative to upgrade the website aligns with MahaRERA’s commitment to adapt to the evolving property market scenario. The new features aim to offer a more user-friendly experience, catering to the needs of homebuyers and developers alike.

The MahaRERA-CRITI website is expected to be fully operational by the end of February, heralding a new era of efficiency and transparency in the real estate regulatory landscape.

Source: https://timesproperty.com/article/post/maharera-to-launch-improved-portal-in-feb-blid6650

MahaRERA has come out with ‘one standalone project, One MahaRERA number’ policy to safeguard the interests of home buyers. Under this policy, the promoters while applying for a new registration need to submit an undertaking stating that the proposed project does not have any MahaRERA registration number for the full project or part of it or any pending application.

The policy is aimed at preventing home buyers from being cheated after instances of developers obtaining two or more MahaRERA registration numbers for the same or part of a real estate project came to light. However, in the case of a project on a large plot, developers will be allowed to obtain separate registration numbers for various phases. Common or special amenities such as recreation facilities, playground, parking, internal road, swimming pool, club house and gymnasium need to be categorically and unambiguously specified for every phase of the project in the application for a new MahaRERA registration number.

According to MahaRERA, promoters apply for registration of their project to be executed on a particular plot of land even when there is a subsisting pending application for registration of a real estate project on the same project land or part of land or when there already exists a real estate project registered with MahaRERA being executed on the very same project land or part of land. There also have been instances where the landowner has contracted with more than one promoter.

Where development is being carried out in a large plot or a layout and MahaRERA registration is sought for buildings, the developer cannotamend amenities such as recreation ground, parking, internal roads, gymnasium and swimming pool as well as public amenities such as amenity plot in the layout already registered with MahaRERA. Any reservation on the plot as declared by authorities can’t be changed without approval of authorities and consent of allottees.

Source: https://timesofindia.indiatimes.com/city/mumbai/maharera-implements-one-project-one-registration-number-policy-to-safeguard-home-buyers/articleshow/106942154.cms

In a significant move to enhance transparency and professionalism in the real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for real estate agents to possess a valid certificate from the authority to operate. This directive comes into effect from January 1, 2024.

New Certification Requirement
MahaRERA’s decision applies to both new agents seeking registration and existing agents renewing their registration. The move is part of the authority’s efforts to address challenges faced by agents who often operate without formal education or training.

Strict Actions for Non-Compliance
MahaRERA has warned that non-compliance with the new regulation, including conducting real estate transactions without a MahaRERA certificate, will result in stringent actions. This measure aims to ensure that agents possess essential knowledge about the laws, rules, regulations, and procedures related to property sales.

Training and Certification Initiatives
The regulatory body had earlier mandated training and certification for agent registrations and renewals, with around 8,000 agents having qualified through three examinations conducted until now. Despite multiple extensions, some agents were yet to undergo the mandated training.

eadline for Compliance: January 1, 2024
MahaRERA has now made it clear that starting from January 1, 2024, new agents will not be allowed to register or renew without a MahaRERA certificate. The newly implemented regulations also encompass individuals affiliated with developers and those engaged in related responsibilities.

Emphasis on Transparency and Compliance
MahaRERA emphasises that these measures are actively implemented to foster a more transparent and compliant real estate sector. Developers are expected to mention the names of trained agents on their portal to ensure smooth transactions.

Conclusion
The certification mandate by MahaRERA signifies a pivotal step towards elevating industry standards and ensuring that real estate agents possess vital knowledge about the RERA Act provisions. Effective January 1, 2024, this move aims to create a more transparent and trustworthy real estate ecosystem, ultimately benefiting consumers in their decision-making process.

Source: https://timesproperty.com/news/post/maharera-mandates-certification-for-real-estate-agents-blid6383

With the third batch of real estate agents gearing to appear for the online examination conducted by Maharashtra Real Estate Regulatory Authority (MahaRERA) on November 22, Mumbai region is expected to get a steady flow of MahaRERA-certified agents. There are 5592 candidates who have successfully completed the prerequisite preliminary training thus making them eligible for the online examination to be conducted by MahaRERA at 19 centres across the state.

These agents play a crucial role as intermediaries between home buyers and developers, serving as the primary source of information for potential clients. Recognising this pivotal role, MahaRERA emphasises the importance of agents being well-versed in the key provisions of the RERA Act.

To date, 3217 candidates have successfully passed the examination, which was conducted twice this year. It is noteworthy that approximately 45,000 agents were initially registered in the state, with the current active workforce standing at 32,000. The shortfall arises from 13,000 agents who have not renewed their certification.

“RERA authorities have made it compulsory for real estate agents from January 2023 to pass this exam and this will be the third time in the year RERA is conducting the exam. Agents form the link between buyers and sellers so it will be very much helpful for the buyers if all agents are on the same page with respect to the rules according to RERA Act,” said an official from MahaRERA office at Bandra.

The training programme focuses on ensuring uniformity, consistency and clarity in providing essential information related to regulatory provisions, such as the agreement for sale, allotment letter issued after registration of the house, carpet area and defect liability period, among others. This knowledge is crucial as it forms the basis on which consumers make informed decisions when purchasing a home.

Source: https://www.mid-day.com/mumbai/mumbai-news/article/mumbai-metropolitan-region-to-get-more-rera-certified-estate-agents-23320455

The Housing Minister of Maharashtra, Atul Save, has announced that the Maharashtra Real Estate Regulatory Authority (MahaRERA) will be reviewing and reviving 7,500 legacy stalled real estate projects within the next two weeks. This initiative will be carried out in collaboration with financial institutions and developers’ bodies.

Save stated that this action aligns with the recommendations made by a committee led by former NITI Aayog CEO Amitabh Kant. The committee proposed state intervention or a rehabilitation policy to revive stagnant projects and submitted its report to the Ministry of Housing and Urban Development in August.

Furthermore, Save emphasised the government’s commitment to expediting the approval process for proposals submitted by new developers working on stalled projects. This effort aims to prevent financial losses for homebuyers and ensure the revival of expired plans. Save also mentioned his intention to personally assess each of these projects in coordination with MahaRERA.

The MahaRERA authority has already compiled a list of projects that have lapsed since 2017. According to Save, approximately 7,500 projects have either lapsed or stalled without making any progress. Consumer bodies have urged all states to present their revival plans, especially considering that it has been four months since the Kant committee report was submitted.

Source: https://www.constructionworld.in/latest-construction-news/real-estate-news/maharera-revives-7500-stalled-real-estate-projects-in-maharashtra/46347