Enhancing Transparency in Maharashtra's Real Estate: New Delivery Deadlines for Amenities
Maharashtra's real estate sector is witnessing a surge with 17% increase in property registrations. MahaRERA's new regulation ensures transparency in amenity delivery timelines.
MahareraReal EstateMaharashtraNaredcoTransparencyReal Estate MumbaiAug 02, 2024
This move aims to enhance transparency and accountability in the sector, ensuring that homebuyers are well-informed about the delivery timelines of key project elements. By enforcing these requirements, MahaRERA seeks to protect consumers' interests, reduce disputes, and foster a more reliable and trustworthy real estate market in Maharashtra.According to Mr. Prashant Sharma, President of the National Real Estate Development Council (NAREDCO) Maharashtra,
Frequently Asked Questions
What is the main objective of MahaRERA's new regulation?
The main objective is to enhance transparency and accountability in the real estate sector by requiring developers to specify timelines for delivering amenities and obtaining the occupation certificate.
How will this regulation benefit homebuyers?
This regulation will ensure that homebuyers are well-informed about the delivery timelines of key project elements, reducing disputes and fostering trust between homebuyers and developers.
What is NAREDCO Maharashtra's stance on this regulation?
NAREDCO Maharashtra fully supports this initiative, as it aligns with their commitment to fostering ethical practices and enhancing customer confidence in the industry.
What is the significance of the 17% increase in property registrations in May 2024?
The 17% increase in property registrations in May 2024 indicates a healthy growth momentum in Maharashtra's real estate sector, which can be further boosted by MahaRERA's new regulation.
What is the role of MahaRERA in regulating the real estate sector?
MahaRERA is responsible for registering and regulating real estate projects in Maharashtra, ensuring that developers comply with the provisions of the Real Estate (Regulation and Development) Act, 2016.
Related News Articles
AI Centres to Boost Agriculture: FM Nirmala Sitharaman's Vision for 2047
Finance Minister Nirmala Sitharaman has announced the establishment of AI centres to empower the agricultural sector, aligning with India's Vision 2047. These centres will focus on leveraging artificial intelligence to enhance productivity, sustainability
India's Affordable Housing Shortage to Hit 31.2 Million Units by 2030: CII-Knight Frank Report
The Confederation of Indian Industry (CII) and real estate consultant Knight Frank India have released a joint report highlighting the growing shortage of affordable housing in the country. The report, titled 'Affordable Housing in India,' projects a cumu
Hrithik Roshan's Real Estate Move: Rental Bonanza in Mumbai
Bollywood actor Hrithik Roshan has leased his luxury commercial property in Goregaon, Mumbai for a monthly rent of Rs 5.62 lakh.
India's Economic Boom: A Boon for Luxury Homebuyers and Investors
The economic upswing in India is fueling a surge in luxury real estate, particularly in bustling cities like Mumbai, where non-resident Indians (NRIs) are making significant investments.
Infosys BPM Secures 1.3 Million Sq Ft in Pune's Embassy Tech Zone
Infosys BPM, a leading business process management company, has leased 1.3 million square feet in Pune's Embassy Tech Zone, marking a significant expansion in the city's real estate market. This move underscores the growing demand for commercial spaces in Pune, bolstered by the city's strategic location and robust IT infrastructure.
Mumbai Dominates India's Real Estate Equity Investments with $6.9 Billion Inflows
A recent report highlights Mumbai's leading role in the Indian real estate market, with a significant share of equity investments amounting to $6.9 billion, representing roughly 26% of the country's total.