The Real Estate (Regulation and Development) Act, 2016, came into force from May 2017. Among the Act’s key objectives is regulating the real estate industry in every nook and corner of the country. Every state in India has its own RERA authority that oversees and regulates the real estate sector in the state. Maharashtra’s RERA, also called MahaRERA, has been very active since its launch.
Latest News and updates on MahaRERA
MahaRERA—the Maharashtra Real Estate Regulatory Authority—has announced a detailed check of Occupation Certificates (OCs) for stalled or expired property projects. This move comes after reports that fake land records and forged paperwork were used to wrongly obtain approvals for real estate developments. Local planning authorities will now help in verifying these claims.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has suspended the registration of 4,812 lapsed real estate projects across the state and frozen their bank accounts. This action was taken against developers who failed to provide quarterly progress reports or apply for project extensions.
The highest number of suspended projects are in the Pune region, followed by Raigad, Mumbai suburban, Thane, and Palghar districts. Developers of these projects are now barred from advertising, marketing, booking, selling, or registering their properties. MahaRERA has published a list of these projects on its website to inform potential homebuyers. The suspension can be revoked if developers comply with the regulations by submitting the required progress reports and paying penalties.
What is MahaRERA?
MahaRERA stands for the Maharashtra Real Estate Regulatory Authority. It was established under the Maharashtra Real Estate (Regulation and Development) Rules, 2017, and serves multiple purposes:
- Ensures registration of property projects and real estate agents.
- Encourages honest dealings in the buying and selling of homes, plots, and commercial buildings.
- Looks after the interests of property buyers, promoters, and agents.
- Offers a system to help resolve disputes between parties.
- Has a tribunal where buyers can file appeals if they are unsatisfied with decisions.
- Gives suggestions to government bodies about the real estate sector and its development.
All residential and commercial property projects in Maharashtra must register with MahaRERA. Developers cannot advertise or sell any property without first getting registered.
What is RERA Act in Maharashtra?
Under the Real Estate (Regulation and Development) Act, 2016, every Indian state must have its own Real Estate Regulatory Authority. RERA overseas the protocols in the real estate industry and initiates quick dispute redressal. Maharashtra is the first state to fully implement RERA via Maharashtra Real Estate Regulatory Authority or MahaRERA. The RERA Act in Maharashtra functions on the following objectives:
1. Bring optimum transparency in the sale of plots, apartments, and buildings.
2. Protection of customers’ interest in real estate transactions.
3. Initiate fast dispute settlement with a settling method.
4. Formation of the Appellate Tribunal to receive complaints from buyers.
In Maharashtra, every residential and commercial project must mandatorily get registered under MahaRERA. No promoter or developer is permitted to advertise, sell or book their real estate projects otherwise.
So far, the state alone has processed over 18,000 applications, making up for more than 60% of the RERA applications in India. Also, MahaRERA dealt with close to 2,387 complaints in the previous year.
MahaRERA registration process
Here is a step-by-step guide to registering on the MahaRERA website:
- Go to the official MahaRERA website at https://maharerait.mahaonline.gov.in/
- Click on the ‘New Registration’ link located next to the Login button
- In the new window that opens, select your user type from the following options:
- Promoter
- Real estate agent
- Complainant
- Fill in all the necessary information as prompted
- Verify your email ID to ensure access to your account
- Submit the required documents based on your chosen user type
MahaRERA login – Step-by-step guide
To log in to your MahaRERA account, begin by visiting the official login page. Once there:
- Choose the type of user you are – promoter, real estate agent, or citizen.
- Enter your registered user ID and password in the given fields.
- Type the captcha characters that appear on the screen for security verification.
- Click on the ‘Log in’ button to complete the process.
You can now access your personalised dashboard on the MahaRERA portal.
Features and benefits of MahaRERA
Features of MahaRERA
- State-specific authority: MahaRERA is responsible for overseeing real estate activity in Maharashtra, including the union territories of Dadra and Nagar Haveli, and Daman and Diu.
- Handling complaints: By 23 September 2019, the authority had received 8,968 complaints. Out of these, 8,351 were linked to registered projects and 617 to unregistered ones. So far, 5,355 orders have been passed for registered projects and 351 for unregistered ones.
- Informative website: MahaRERA has a user-friendly website where buyers and investors can find complete details of registered projects. The website shares project timelines, broker credentials, and other key details, helping buyers plan better, including when to apply for home loans.
- Designed to protect buyers: Only registered projects can be promoted under MahaRERA. If builders delay handing over the project and buyers choose not to withdraw, they are entitled to receive their money back with interest for each month delayed.
Planning to purchase a MahaRERA registered property? Check your home loan eligibility with Bajaj Finserv today. You may already be eligible, find out by entering your mobile number and OTP.
Benefits of MahaRERA
- Better transparency: Before MahaRERA, many buyers faced challenges due to lack of proper information. Now, developers must share all project details, stick to commitments, report delays, and face penalties for not complying. Buyers also have the power to question every step of the development process.
- Follows strict rules: MahaRERA ensures that builders cannot misuse funds collected from buyers. Builders must only accept a 10% advance payment before signing an agreement. Failure to follow the rules can result in fines and even jail time of up to 3 years.
- Developer accountability: Builders are required to keep 70% of the project funds in a separate bank account. These funds can only be used for the construction work or for land costs. Developers also need to update the authorities regularly about how the work is progressing.
- Higher buyer confidence: The biggest benefit of MahaRERA is that it helps restore faith in the property market. More buyers now feel secure and confident when investing in real estate.
MahaRERA project search online
If you want to find projects listed under the Maharashtra Real Estate Regulatory Authority (MahaRERA), follow these steps:
- Go to the official website: Visit https://maharera.mahaonline.gov.in/.
- Access the search section: On the homepage, select the “Registration” tab and choose “Registered Projects” from the dropdown.
- Provide project details: You can use different filters for your search:
- Project Name – Enter the full project name.
- Promoter/Developer Name – Type the name of the builder or developer.
- MahaRERA Project Registration Number – Enter the unique ID if you know it.
- Start the search: After entering details, click on “Search.”
- Check the results: The results will show important information such as project specifications, approvals, legal documents, present status, estimated completion date, and financial disclosures. This ensures that you have complete transparency about whether the project is registered and compliant with MahaRERA norms.
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