RERA REGISTRATION IN FULL SWING
With Maharashtra becoming the first Indian state to implement RERA from 1st May, it has now become mandatory for real estate developers to register themselves as well their projects which are in development state or announced and yet to commence. It has also restricted the initiation of any project without registration. This has lead to
With Maharashtra becoming the first Indian state to implement RERA from 1st May, it has now become mandatory for real estate developers to register themselves as well their projects which are in development state or announced and yet to commence. It has also restricted the initiation of any project without registration. This has lead to the developers and property dealers making a bee line for registration under the new act in the first days of May 2017. The time frame given for registering ongoing projects is three months. At present RERA in Maharashtra is being governed by 1982 batch IAS officer Gautam Chaterjee, who has been appointed as the interim regulator since April this year. The authority is expected to bring about transparency, accountability and financial discipline on part of the developers. Buyers are hailing it as a milestone achievement of the consumer movement.
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