MahaRERA’s Counseling System Proves Beneficial for Home Buyers and Developers
Mumbai, 13th November 2023: Maharashtra Real Estate Regulatory Authority (MahaRERA)’s counseling system, initiated in February at its Mumbai headquarters, has emerged as a boon for both home buyers and developers. The system, designed to address queries and concerns, has witnessed a steady increase in participation, benefiting approximately 300 to 350 individuals monthly.
Initially, around 1500 home buyers and developers availed themselves of this counseling arrangement during the first one to two months. However, the numbers have surged, indicating a growing reliance on the system. Presently, around 70-75 percent of home buyers and 25-30 percent of developers are actively utilizing MahaRERA’s counseling services.
Homebuyers encounter issues such as delayed possession, subpar housing quality, and project completion challenges, while developers face regulatory and ancillary hurdles. To address these concerns, MahaRERA implemented the counseling system in February. Two senior officers with in-depth knowledge of MahaRERA’s operations are stationed on the fourth floor of MahaRERA’s headquarters in Mumbai’s BKC area, offering guidance during office hours.
Homebuyers seeking advice on house registration, possession delays, and quality concerns express satisfaction with MahaRERA’s guidance on how to register complaints and seek relief through the appropriate channels.
For developers, compliance with regulatory provisions is crucial, including the timely submission of quarterly and annual forms. MahaRERA has maintained a strict stance on compliance and enforcement, aiding developers who may be unaware of or overlook these regulatory obligations. New developers, in particular, benefit from official guidance on project registration and required documentation directly from MahaRERA, ensuring a smoother process.
