State tops list of RERA-listed properties

State tops list of RERA-listed properties



PUNE: Close to 20,000 properties have been registered in the State, as MahaRERA (Maharashtra Real Estate Regulatory Authority) has completed its two years of existence. In this time, the sector has undergone a sea change, informed Confederation of Real Estate Developers Association of India (CREDAI) officials. Considering the success in Maharashtra, CREDAI officials have demanded the Central Government should implement an online system of MahaRERA for the entire nation.

Shantilal Kataria, Vice President- CREDAI National, said, “Maharera is ‘maha’ in the true sense - registration numbers are more than 59 per cent (20,500 out of 41,000) of the entire nation. Those in second and third place- Gujarat (5,360), Karnataka (3,157) - are far away. Uttar Pradesh is fourth with 2,612 properties registered.” Kataria added, “Same with the registration of estate agents, Maharashtra has a huge registration number of 19,500.”

Kataria said that the implementation of RERA is transparent and quick in Maharashtra. He pointed out that people get registration within 7 to 10 working days online, without visiting the RERA office. The systematic working and implementation of RERA in Maharashtra is top amongst India, he claimed.  Kataria added, “The counselling forum for solving customers’ issues is working well in Maharashtra, particularly in Pune.” He shared that due to this, customers in Maharashtra have gained confidence for purchasing property in Maharashtra. Kataria said that MahaRERA is also working to help customers to complete projects with the help of Section 7 of the Act.

Speaking about RERA completing two years of existence, President of CREDAI Maharashtra Rajiv Parikh added, “MahaRERA has completed two successful years. It is a revolutionary step for real estate in Maharashtra. CREDAI welcomes this movement which created discipline in their industry. It’s a completely online system which created history in our nation by making 20,000+ project registrations and real estate agent registrations.” 

Parikh added that almost all complaints from flat consumers have been properly sorted out by RERA authorities protecting the basic rights of the consumer. RERA has created transparency, healthy environment and confidence amongst customers buying real estate in Maharashtra.

The bridge chronicle