Being the very Diamond State to implement state RERA in one go, RERA Act Maharashtra came into force on 1st May 2017. It ranks top within the list of most active Land Regulatory Authorities. MahaRERA controls and focuses on the important estate protocols to initiate prompt dispute redressed. The key aim was to spice up investments across the estate sector and to infuse transaction transparency.
Key Objectives of MahaRERA in Navi Mumbai:
*To protect the customer’s interest within the land sector
*To initiate a procedure for swift discourse resolution
*To ensure the sale of a building, plot, and apartment within the land sector is transparent and efficient
*To form an Appellate Tribunal to listen to appeals from the directions, decisions, or orders of RERA
*Funds prevention: RERA in Kharghar prevents insolvency by creating a separate Escrow account for borrowers associated with property transactions.
*Authenticity: RERA in Navi Mumbai certification assures authentication to the promoters and brokers to draw in more potential buyers in the future.
*Complaints: RERA in Kharghar registered promoters and brokers also are empowered to complain to the authority regarding any related matters.
*Flexibility: RERA in Navi Mumbai makes it flexible and convenient for the promoters to settle on the date of delivery of the project as per their consent.
*Professionalism: RERA in Kharghar is for strengthening the estate industry and it also helps in creating a way of professionalism. The regulatory act will make it an option for people to affix the important estate industry.
Facilities Offered By MahaRERA Website:
To offer the utmost convenience to the shoppers, the MahaRERA website comes up with numerous facilities. These facilities break down into three categories i.e. Promoters, property Agents, and Citizens. Have a look to avail maximum possible benefits of the RERA Act Maharashtra:
Promoters: Under RERA Act 2016, promoters are absolute to register all property projects (commercial or residential) with MahaRERA. Although, certain projects are exempted from this registration. It includes:
- Projects that cover a surface area about 500 sq meters.
- If the project encompasses about 8 proposed apartments including all phases.
- Promoter has already received the requisite completion certificate for the associated land project before the RERA act commencement.
- There is no need to register if the key purpose is renovation and repair of the project. Additionally, it doesn’t involve any form of marketing; advertising, or allotment tasks.
- As per MahaRERA, promoters have control to enter complaints opposed to erroneous house buyers in term of remittance.
- Easy access to the web registration process for a project through the RERA website.
- Update details related to the important estate projects without visiting the state authority personally.
- Extension of projects and quarterly updates.
Real Estate Agents:
Prior to assisting any sale, all agents must register themselves under MahaRERA. As per the updated RERA rules, promoters have to provide the names of registered agents. The named agents are going to be permitted to facilitate the sales related to the said project. This registration is valid for up to 5 years. After this, you’ll renew the registration by visiting the RERA official website. The following facilities are provided to estate agents:
- Quick registration of the important Estate Agents
- Renew your agent registration through the RERA site
- Complaints Filing
Citizens: Under the realty Act 2016, homebuyers are supplied with the subsequent set of services:
- Complaints Filing
- Easy access to RERA registered projects
Applicability of RERA in Navi Mumbai, Kharghar Registration :
It applies to promoters and property agents who incorporate builder, developer, contractor, development body, or the other public body that constructs/develops land/building/apartment for the aim of sale.
Type of properties – It applies to commercial buildings, residential apartments, and plots developed purchasable.
Area – The registration applies for land projects exceeding 500 sq. meters or having quite eight apartments.
To put it briefly:
The MahaRERA was enacted for streamlining and governing the important estate sector through a sole medium. Numerous unauthentic and fraudulent projects that did not bring transparency were blacklisted. Every involved party including agents, promoters, and developers were supplied with a singular RERA number to authenticate the realty deals. The basic intent is to prevent house buyers achieve with the formation of the RERA act Maharashtra.