Maharashtra’s real estate is among the fastest growing markets. Homebuyers today are more aware and cautious of all legalities and are more informed than ever before. One of the biggest reasons behind this major change is MahaRERA, the Maharashtra Real Estate Regulatory Authority which was set up under the Real Estate (Regulation and Development) Act, 2016. The MahaRERA was introduced to bring transparency and accountability into the real estate sector of Maharashtra. The act came into effect on May 1, 2017 and regulates residential and commercial real estate projects across Maharashtra. As of now, there are over 52,000 registered projects registered under this. The body has also solved over thousands of complaints over the years.
Before purchasing a property in Maharashtra, it’s important to check the project’s MahaRERA registration. A non-negotiable first step. On this note, let’s have a look at five key things every homebuyer and investor should know about MahaRERA and why it matters:
