Maharashtra’s MahaRERA: Addressing Homebuyer Concerns

    Date:

    Share post:

    Notable Accomplishments

    MahaRERA, the real estate regulatory authority in Maharashtra, has made substantial strides. Over the past seven years, it has effectively handled 15,423 complaints from homebuyers. This achievement positions Maharashtra among the top three states in the country for addressing homebuyer issues, according to a report from the Ministry of Housing and Urban Affairs.

    Nationwide Impact

    Nationwide, real estate authorities have collectively resolved 1.16 lakh consumer complaints. Maharashtra ranks third in effectively resolving complaints, following Uttar Pradesh and Haryana.

    Regulatory Landscape

    While 32 states and UTs have functional real estate regulatory authorities, Ladakh, Meghalaya, Nagaland, and Sikkim are yet to establish such entities to address homebuyers’ complaints.

    Significant Contributions

    Experts note that the top three states, including Maharashtra, accounted for almost 69% of the total complaints resolved under RERA. Anuj Puri, Chairman of Anarock, emphasizes the critical nature of addressing homebuyers’ concerns and highlights the continued momentum in the real estate sector.

    Maharashtra Leads in Registrations

    Maharashtra holds the lead in RERA registrations, encompassing 36% of all registered projects, followed by Tamil Nadu, Telangana, and Gujarat.

    Progressive Trends

    Registrations for projects and agents under RERA have shown consistent growth. Over the past two years, project registrations surged by 63%, while real estate broker registrations increased by 47%.

    Persisting Concerns

    Abhay Upadhyay from FPCE raised concerns, stressing that addressing complaints alone doesn’t suffice, as many builders reportedly fail to comply with RERA orders, compelling homebuyers to seek recourse through alternative platforms.

    Facilitating Amicable Solutions

    MahaRERA’s Conciliation Forum has played a significant role. Since 2021, it has resolved 1,343 disputes out of 4,885 complaints between homebuyers and developers amicably. The forum comprises representatives from Credai-Pune Metro, Mumbai Grahak Panchayat, and other promoter associations, aiming to ensure fair resolutions even after cases are filed with MahaRERA.

    Also read: RERA Achievements: Massive Growth in Project Registrations and Consumer Complaint Resolutions

    Related Posts

    Latest posts

    TCS Rents 400,000 Sq Ft Office Space in Noida

    "Tata Consultancy Services (TCS) has leased 400,000 square feet of office space in Noida due to increased demand....

    Raymond Group Unveils First Mumbai Real Estate Project in Bandra

    "Raymond Group Unveils First Mumbai Real Estate Project in Bandra, Aims to Generate Over $2 Billion" Raymond Realty, the...

    Brigade Group Plans to Expand Office Space by 3 Million Sq Ft

    Brigade Group Plans to Expand Office Space by 3 Million Sq Ft, Aims for Revenue of Rs 380...

    Big Players Oberoi and Raymond Compete in Thane Real Estate Market

    "Big Players like Oberoi Realty and Raymond Realty to Compete in Thane Real Estate Market" In the bustling real...