MahaRERA Set To Engage External Expert Body For Closely Monitoring Housing And Commercial Projects
Mumbai, 10th August 2023: MahaRERA has established a Compliance Cell to conduct meticulous oversight of housing and commercial projects registered under its purview in Maharashtra. In a bid to optimize the operations of this cell, MahaRERA has opted to enlist the assistance of an expert system.
This system aims to provide an up-to-date and accurate status report on numerous projects, complete with supplementary images and essential reports, in addition to previous evaluations. Initially, this initiative will concentrate on pivotal regions such as Mumbai Metropolitan (MMR), Pune, Nashik, Aurangabad, Nagpur, where over 80 percent of the state’s projects are situated.
The enhancement of this system involves regular monitoring of flagged projects, endeavors to revive dormant and strained projects, and consistent follow-up for quarterly and annual updates from developers to be showcased on the official website. The compliance department shoulders numerous vital responsibilities to ensure the smooth progress of these projects.
To achieve this, access to real-time and accurate project status is imperative. This information will enable the classification of projects for potential revival, such as those completed and delivered to homebuyers with occupancy certificates, projects where homebuyers have taken possession without occupancy certificates, projects progressing at a slow pace, halted projects, and those where the developer has ceased work partially.
A crucial aspect is the consistent submission of quarterly and annual reports from developers, furnishing comprehensive project details. In cases of doubt regarding submitted information, MahaRERA currently lacks the capacity for verification.
Additionally, a mechanism to address non-compliance is essential, necessitating solid and reliable data at Maharera’s disposal. By facilitating the availability of this information periodically, the proposed system aligns with MahaRERA’s overarching objective of exercising micro-level control over projects, ultimately benefiting consumers.
