The country has no information to help facilitate the buying decision for consumers. The report on the action taken is still missing and consumers and lawyers are often dissatisfied with the implementation of these orders.
Puni: Maharashtra can have first place among the states when it comes to registering real estate projects as well as with regard to complaints that have been canceled. But this is where the discrimination ends.
The country has no information to help facilitate the buying decision for consumers. The report on the action taken is still missing and consumers and lawyers are often dissatisfied with the implementation of these orders.
This also arises from a fundamental duality in the intention of the law that requires the authority to play a regulatory and developmental role. “We cannot completely punish the developer, because it is already fighting. People think that Maharashtra Real Estate Regulatory Authority (MahaRERA) is a forum for consumers, where we also have to make sure the industry is booming,” said a senior MahaRERA official when asked why penalties are not imposed on developer roaming As provided for by law.
Industry sources said it was essentially known where and with which developers they found the failure. "Even the disclosures on the MahaRERA website are full of contradictions," a source said.
"Many developers offer unapproved project plans, in which an additional room or floor is flooded, and agreements that do not comply with the law, among other things. Even periodic updates do not provide details such as the actual condition of the work performed, or the number of units or parking lots sold. Or even details of lawsuits. Although the Real Estate (Regulation and Development) Act (RERA Act) stipulates that developers must download any litigation details immediately, he has discovered that many of them spend their good time.
Many consumers complained that even when basic civil work was incomplete, many developers boasted a certificate of achievement.
“Certainly consumers cannot simply rely on the information provided on the RERA website of the respective states/territories in the federation. They must exercise due diligence before purchasing a property … Project details (completed, pending, etc.) said Anuj Puri, president of the company Anarok Property Consultants: "It must be mentioned and it should reflect the true image. Otherwise, the goal of implementing RERA will be defeated."
He added that RERA from Uttar Pradesh had taken the step of publishing a separate list of projects and builders had failed to comply.
Most complaints that MahaRERA deals with are project delays, although many developers tend to review the deadline before the law goes into effect.
"The completion dates are not realistic given that the developers have a delay margin. Paramveer Singh Paul, director of the Knight Frank branch, said the website on the current form contains relevant information parameters for the project, but adding analytical parameters will help consumers make decisions."
According to market participants, illegal construction activity was not exploited either.
“Authorities and industry should review the realism of RERA’s effectiveness, from its inception. The primary goal of RERA is to protect the consumer, as well as the responsibility of the developers. But on the ground, illegal construction doubled as if there was no limit across the city.
The developer added: "There will be no amount of disclosure about RERA to gain consumer confidence. What we need is a holistic approach in which the industry returns to normal."