The Maharashtra Real Estate Regulatory Authority (MahaRERA) has created a forum of 33 conciliators to set up 15 groups containing two individuals each
A detailed article where we are explaining that why RERA Registration is the must for Builders?
There are lot of questions you have in mind before investing in real estate projects post RERA. In this article we are dicussing on some of them.
If any on-going project has not registered under respective State RERA, such project may have to face huge penalty which may be up to 10% of the project cost.
The State government of Tamil Nadu alleged that developers must register their ongoing projects before selling or advertising. In case developers fail to register under the RERA Act he will face heavy penalty.
Since RERA came in there has been downtime in home buying and property development as home loan market has struck its lowest.
An escape window of 90 days was provided to the developers so that they can register their new and ongoing projects under RERA.
Due to eleventh-hour rush maximal registration is expected, staff members of MAHA RERA Authority have been asked to work an extra hour for the next 3 days.
RERA Registration: The builders they are probing RERA Authority for 90-day window from the date of notification of RERA Rules to get themselves registered.
The State government advised the builders to register to register their ongoing projects under RERA Act. If the promoter fails to do so, they will be inviting cumbersome penalty.