Tag: maharera

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

In 2023, 1,702 real-estate projects registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) have lapsed, owing to delays, according to data provided by the authority.

With this, more than 7,700 projects have lapsed since the inception of MahaRERA in May 2017.

This means real-estate developers cannot advertise, market or sell apartments in these 7,700 projects.

What is a lapsed project?

Every real-estate project, which is registered with MahaRERA, is given three to four years or more for completion. After this, a registration number is issued for the project.

The registration number is to be published by the developer in every advertisement or promotion activity. However, a project is termed as lapsed when the timeline given for completion is not met, and the developer has not applied for an extension despite the project being incomplete.

Once the registration of the project is declared lapsed, the developer cannot advertise, market, book, sell or offer to sell, or invite people to invest in these projects. Such projects cannot be registered by the Registrar of the revenue department, according to the provisions of the RERA Act, 2016.

Year-wise data

According to MahaRERA, in 2017, a total of 66 projects had lapsed, 342 in 2018, 783 in 2019, 624 in 2020, 1,341 in 2021, 2,845 in 2022, and 1,702 in 2023. This takes the total number of lapsed projects to 7,703.

What is MahaRERA doing?

The MahaRERA had, in June 2022, launched a special vertical for lapsed projects that are stuck owing to several reasons.

Over the past 16 months, the lapsed project vertical of MahaRERA has issued several notices to developers to come forward and ensure the stuck projects get on track.

“We have issued notices, divided projects into several buckets, issued non-compliance notices over non-uploading of quarterly progress reports (QPRs) and so on. Action is happening as we speak. We are also in the process of issuing notices to developers who do not upload QPRs on the MahaRERA’s website,” said a senior MahaRERA official.

The MahaRERA had, in February 2023, announced dividing projects into four groups, according to their current status. The first group includes projects that can be completed without compromising the rights of home buyers.

The second contains those where there is a need to reconcile developers and home buyers. In the third group are projects that require the MahaRERA’s intervention due to certain issues with local authorities or lending banks. And in the fourth category are projects in which the developer is missing and home buyers can complete the project by replacing the developer.

Grading of developers

MahaRERA had announced, on September 4, that it will start grading real-estate projects in the state from April 2024. This, MahaRERA maintained, will help homebuyers make informed decisions.

The grading matrix will be updated every six months of the financial year. The first quarter that will be considered for grading of projects will be October 1, 2023 to March 31, 2024.

The MahaRERA has set several parameters based on which grades will be given. One is based on the information uploaded by the developer on the MahaRERA website, followed by other parameters like technical details about the project, financial declaration about the project, bookings made, legal complications, complaints filed against the developer in a particular project and the overall project overview compliance etc.

Source: https://www.moneycontrol.com/news/business/real-estate/1702-real-estate-projects-lapse-in-maharashtra-in-2023-11563171.html

In order to increase the accountability of real estate developers towards the quality of real estate projects, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has proposed that developers make six monthly declarations on the quality of projects undertaken by them. For this, MahaRERA has sought suggestions from developers; these can be sent in by October 31.

MahaRERA is considering regulations on monitoring the quality of construction. For this, it is in the process of drafting a discussion paper that is expected to be made public in the coming days.

“MahaRERA is of the opinion that the quality of construction of projects can be controlled if regulations and procedures for effective implementation are laid down,” said a statement by MahaRERA on September 16.

“Most people invest their lifetime earnings in buying a home. After taking possession of the house, it is the developer’s responsibility to resolve these complaints free of cost for up to five years as per the defect liability period. However, in such a case, MahaRERA has decided to insist on quality construction in advance to ensure that homebuyers do not face problems after taking possession of the house,” said Ajoy Mehta, Chairman of MahaRERA, said.

He added, “Therefore, certain procedures and standards to be followed during construction are being decided. This will not only help in securing the interests of the customers but will also help in increasing the credibility of the real estate sector.”

Current provision under RERA Act for quality

Section 14(3) of the RERA Act stipulates that “In case any structural defect or any other defect in workmanship, quality, or provision of services or any other obligations of the promoter as per the agreement for sale relating to such development is brought to the notice of the promoter within a period of five years by the allottee from the date of handing over possession, it shall be the duty of the promoter to rectify such defects without further charge, within 30 days, and in the event of the promoter’s failure to rectify such defects within such time, the aggrieved allottees shall be entitled to receive appropriate compensation in the manner as provided under this Act.”

“While the Act does provide remedial measures for defect rectification, it is essential to recognise that the best approach to safeguarding the interests of homebuyers is not limited to offering remedies after defects have surfaced. Instead, the focus should be on establishing processes and standards that minimise the likelihood of defects occurring in the first place, said MahaRERA in a letter to the developers’ association.

It added, “MahaRERA proposes a proactive approach centred on quality assurance as its primary objective. This approach supports preventing defects from arising initially, thereby obviating the need for costly rework. By ensuring rigorous standards of material quality and workmanship throughout the construction process, real estate projects can be executed with a defect-free outcome that adheres to strict quality standards.”

“In light of this, MahaRERA is desirous of developing a framework for quality assurance reporting. It is proposed that developers should report on the quality of materials used, workmanship, etc. on a bi-yearly basis, which shall be displayed to homebuyers for informed decision-making. In this regard, we kindly request your valuable input for the development of a Framework for Quality Assurance for Real Estate Projects in Maharashtra. Please submit your input to suggestions.maharera@gmail.com by the deadline of 31 October 2023, MahaRERA’s letter to the developers added.

Source: https://www.moneycontrol.com/news/business/real-estate/maharera-proposes-bi-yearly-declaration-on-construction-quality-seeks-suggestions-from-developers-11531381.html

MahaRera has levied a cumulative fine of Rs 0.2 million on six developers in the Mumbai Metropolitan Region (MMR) for failing to include QR codes of project registration in their advertisements. Out of a total of 107 cases, show-cause notices were issued to 74 developers who did not print or display QR codes in their ads.
MahaRera has heard 25 of these cases related to MMR projects and imposed fines in six instances. For promoters who claimed their ads were issued without their knowledge, MahaRera has advised them to file cases with the cybercrime cell. The regulatory body is still in the process of hearing and determining penalties for the remaining cases and plans to send show-cause notices to the remaining 33 developers. MahaRera had mandated the inclusion of QR codes in all housing project advertisements from August 1.

MahaRera has been monitoring advertisements in newspapers and on online and social media platforms like Facebook, Twitter, and Instagram. They observed that a significant number of advertisements on online and social media platforms lack QR codes. Some promoters have claimed that the advertisements were not authorised by them or were issued without their knowledge, prompting MahaRera to direct them to involve the cyber crime cell. Advocate Avinash Pawar commended the move to penalise developers for non-compliance with QR code display rules but urged MahaRera to ensure the enforcement of earlier orders and fill vacancies within the regulatory body.
MahaRera has also urged homebuyers to exercise caution when viewing advertisements on social media to avoid potential scams. In addition to QR codes, homebuyers can verify project details by entering the registration number on the MahaRera website, where comprehensive project information is available.

Earlier this year, MahaRera imposed a collective fine of Rs 1.8 million on 90 developers for advertising projects without MahaRera registration numbers.

MahaRera has levied a cumulative fine of Rs 0.2 million on six developers in the Mumbai Metropolitan Region (MMR) for failing to include QR codes of project registration in their advertisements. Out of a total of 107 cases, show-cause notices were issued to 74 developers who did not print or display QR codes in their ads.
MahaRera has heard 25 of these cases related to MMR projects and imposed fines in six instances. For promoters who claimed their ads were issued without their knowledge, MahaRera has advised them to file cases with the cybercrime cell. The regulatory body is still in the process of hearing and determining penalties for the remaining cases and plans to send show-cause notices to the remaining 33 developers.
MahaRera had mandated the inclusion of QR codes in all housing project advertisements from August 1. MahaRera has been monitoring advertisements in newspapers and on online and social media platforms like Facebook, Twitter, and Instagram. They observed that a significant number of advertisements on online and social media
platforms lack QR codes. Some promoters have claimed that the advertisements were not authorised by them or were issued without their knowledge, prompting MahaRera to direct them to involve the cyber crime cell. Advocate Avinash Pawar commended the move to penalise developers for non-compliance with QR code display rules but
urged MahaRera to ensure the enforcement of earlier orders and fill vacancies within the regulatory body. MahaRera has also urged homebuyers to exercise caution when viewing advertisements on social media to avoid potential scams. In addition to QR codes, homebuyers can verify project details by entering the registration number on the MahaRera website, where comprehensive project information is available. Earlier this year, MahaRera imposed a collective fine of Rs 1.8 million on 90 developers for advertising projects without MahaRera registration numbers.

Source: https://www.constructionworld.in/latest-construction-news/real-estate-news/maharera-fines-developers-for-missing-qr-codes/45105