Buying a home? MahaRERA wants you to check THESE details before signing the agreement!

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has come out with specific guidelines, cautioning homebuyers to verify the project’s registration status on the state realty sector regulator’s website and also do complete due diligence before buying a property.

To help property buyers invest in safe projects, the regulator has suggested they check if the developer has all the required permissions, like building approvals and environmental clearances from respective authorities.

Of late, there have been several complaints against developers before MahaRERA on how builders are registering upper-floor flats without a valid Commencement Certificate. Complaints have also been received by the regulator about builders allegedly refusing to sign sale agreements despite receiving over 10% of the total deal cost from homebuyers.

Carefully review project details: MahaRERA to homebuyers

The real estate regulator has suggested homebuyers to carefully review details like project timelines, amenities promised by the developer, and also disclosures. MahaRERA also stressed that the buyers should understand the terms of the sale agreement and if there is any doubt, they need to get it clarified before signing the deal paper.

MahaRERA Chairman Manoj Saunik said, “MahaRERA has always been striving to provide a legally and financially protected home-buying experience to the homebuyer. However, there always is a possibility of certain challenges that may arise during the project’s execution, to pre-empt this, a stringent legal, technical, and financial scrutiny of each proposed housing project is undertaken before issuing the registration number.”

“Some of the scrutiny process includes plot’s ownership on which the project will be built, dispute if any, details of the real estate agents, approvals from the local planning authority, commencement certificate mentioning total number of floors permitted, etc. Such as these, many more details from the legal, technical and financial aspects are to be furnished to successfully register with MahaRERA. Once the project is approved, these details are publicly available on MahaRERA’s website to ensure transparency,” Saunik added.

Apart from this, it is also mandatory to have a model agreement for sale with irrevocable provisions, which should also include allotment letter documents, parking and details on amenities, the chairman informed. “I urge the homebuyers to insist the developers furnish the details, thereafter, they should carefully study these in entirety, prior to booking or buying a property,” said Saunik.

What details should you check on MahaRERA’s portal before buying a property?  » Read More

Related Articles

GCCs, IT companies dominate office space

Quarterly transactions in the office market reached a historic high of 28.2 million square feet in the January-March period, shows a Knight Frank report.  Global capability centres (GCCs) were the largest consumers of office space during the period, accounting for 44% of the total transaction volume.  A resurgence in demand from the third-party IT services

Gems and jewellery units to take a big hit

The reciprocal tariff of 27% will jack up customs duties faced by Indian exporters of studded and gold jewellery in the US to 32-34%, including 5.5-7% extant tariffs. Diamond products which currently do not have any tariffs, will cost US importers a 27% import duty. Sabyasachi Ray, Executive Director of the Gems & Jewellery Export

Some pain & some gain: India Inc counts the cost

Corporate India is gearing up for a challenging trade environment in the wake of the 27% reciprocal tariffs imposed by the US on Thursday. While the Trump administration has described the move as its moment of liberation, India Inc leaders feel there are some pain as well as some gain. From India’s perspective, key sectors

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

GCCs, IT companies dominate office space

Quarterly transactions in the office market reached a historic high of 28.2 million square feet in the January-March period, shows a Knight Frank report.  Global capability centres (GCCs) were the largest consumers of office space during the period, accounting for 44% of the total transaction volume.  A resurgence in demand from the third-party IT services

Gems and jewellery units to take a big hit

The reciprocal tariff of 27% will jack up customs duties faced by Indian exporters of studded and gold jewellery in the US to 32-34%, including 5.5-7% extant tariffs. Diamond products which currently do not have any tariffs, will cost US importers a 27% import duty. Sabyasachi Ray, Executive Director of the Gems & Jewellery Export

Some pain & some gain: India Inc counts the cost

Corporate India is gearing up for a challenging trade environment in the wake of the 27% reciprocal tariffs imposed by the US on Thursday. While the Trump administration has described the move as its moment of liberation, India Inc leaders feel there are some pain as well as some gain. From India’s perspective, key sectors

Dusit to expand presence in India, eyes emerging cities

Dusit International, a leading Thai hotel and property development company, on Thursday announced plans to expand its presence in India by launching its luxury and upper-midscale brands in key emerging markets.  The strategic expansion plan builds on the momentum of Dusit’s recent foray into the Indian market with the soft-opening of the contemporary and upscale

FMCG firms expect mixed show in Q4

The quarterly updates of fast-moving consumer goods (FMCG) companies, which has been released so far for the January-March 2025 period (Q4FY25), present a mixed picture of the sector at a time when urban demand has remained weak. Rural demand, in contrast, has been resilient and is expected to improve in the coming months. While Marico