MahaRERA had setup a Conciliation Forum for aggrieved homebuyers who can approach the forum to get their grievances solved, before lodging complaints with the MahaRERA.
Real estate across the country is already witnessing signs of revival. In the last couple of quarters in this financial year, sales have witnessed more than 20% improvement over last year.
There are many uncompleted projects which are still lying abandoned or molding into structures at a very slow pace.
RERA Act, 2016 and further with more positive reforms a new face of real estate sector free from all encumbrances will evolve.
UP-RERA authority has issued show cause notices to 12 builders who have allegedly diverted funds worth 3000Cr to 4000Cr and have delayed completion of housing projects.
A large number of aggrieved homebuyers took out a large procession against the dilution of RERA by the state government of Karnataka.
MahaRERA which completed a year on May 1 this year is the most progressive authority in India. The authority beyond giving remarkable orders is also trying its best to play the role of regulator.
The Gurugram RERA known as H-RERA is about issue a notification for the builder who are trying attracts the home buyers by making an offer of ‘Assured Returns’.
Almost 18 months have passed since the enactment and the central government as well as concerned state governments are far from the intended mark of implementation.
RERA Authority has decided to form a tripartite committee for the completion of the project. It was also decided by the officials that the committee will constitute a member of UP-RERA, one representative of home buyers and one of builder.