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Maharashtra RERA ensures greater transparency

DNMUM391561 | 7/1/2017 | Author : Team DNA | WC :704 | Business & Economy

policy insights: Number of unit launches dropped by 24% in Q1 2017 versus Q1 2016 as developers are adjusting to the new rules according to Colliers Research
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While the Modi Government’s historic move: approval of Real Estate Regulation and Development Act (RERA) ushered in a hopeful era of transparency and regulation in the real estate sector, it has brought developers, promoters and real estate agents in an unfamiliar environment, where they are trying to adjust to the new directives. The Maharashtra government is one of the frontrunners to notify the rules related to RERA and create a website.
Even though the government is still ironing out several details, an online mechanism is already in place for registration of real estate projects and real estate agents. The rules stipulate that all new under construction projects must register with the authority by July 31, 2017. After that
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