From December 1, all developers registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) will have to furnish details of the developers’ body they are associated with as a part of the latest amendments made by MahaRERA on November 1.
MahaRERA officials said amendments under section 34 of the MahaRERA Act were brought into force to ensure greater professionalism among promoters and discourage fraudulent practices.
Vasant Prabhu, Secretary, MahaRERA, told TOI that the move would benefit consumers as many promoters after registering themselves with the regulatory body do not comply with the rules or are not available on the given address, but now the SROs would have to undertake responsibility for the details provided by the developers and ensure their compliance with the rules and regulations. “We will be able to track all projects with the help of the SROs,” he said.
The developers, while registering with MahaRERA, will have to provide details of the self-regulatory organisation as part of their registration process, which would be approved by the authority. Officials said this would make the developers and SROs accountable for the projects undertaken by them in the state.
