What is the difference between RERA and Maha RERA?

 

Introduction

The Real Estate (Regulation and Development) Act, 2016 (RERA) is a central law that regulates the real estate sector in India. It was enacted to protect the interests of homebuyers and to promote transparency and accountability in the sector. Every state in India has its own RERA authority, which is responsible for implementing and enforcing the RERA Act in the state.

Maha RERA stands for Maharashtra Real Estate Regulatory Authority. It is the RERA authority for the state of Maharashtra. Maha RERA was established in 2017 and has been very active In protecting the rights of homebuyers in the state.

What is RERA?

RERA is a central law that regulates the real estate sector in India. It was enacted in 2016 and came into force in 2017. RERA aims to protect the interests of homebuyers and to promote transparency and accountability in the sector.

RERA requires all real estate developers to register their projects with the RERA authority in the state where the project is located. Developers must also disclose all relevant information about the project, such as the project plan, construction schedule, and pricing, to the RERA authority and to homebuyers.

RERA also establishes a dispute resolution mechanism for homebuyers. If a homebuyer has a complaint against a developer, they can file a complaint with the RERA authority. The RERA authority will then investigate the complaint and try to resolve it through mediation. If mediation is unsuccessful, the RERA authority can pass an order in favor of the homebuyer.

What is Maha RERA?

Maha RERA is the RERA authority for the state of Maharashtra. It was established in 2017 and has been very active in protecting the rights of homebuyers in the state.

Maha RERA has a number of initiatives in place to protect the interests of homebuyers. These initiatives include:

·        Online registration of projects:

All real estate projects in Maharashtra must be registered with Maha RERA. Developers can register their projects online through the Maha RERA website.

 

·        Disclosure of project information: Developers must disclose all relevant information about their projects to Maha RERA and to homebuyers. This information includes the project plan, construction schedule, pricing, and amenities.

 

·        Dispute resolution mechanism: Homebuyers can file complaints with Maha RERA if they have any disputes with developers. Maha RERA will then investigate the complaints and try to resolve them through mediation. If mediation is unsuccessful, the matter will be referred to the Maha RERA Tribunal for adjudication.

How to Register a Complaint with Maha RERA?

To register a complaint with Maha RERA, you can follow these steps:

1. Visit the Maha RERA website and click on the “Complaints” tab.

2. Click on the “Register New Complaint” button.

3. Fill in the required information, such as your name, contact details, and the nature of your complaint.

4. Attach any supporting documents, such as the sale agreement or project brochure.

5. Click on the “Submit” button.

Once you have submitted your complaint, you will receive a confirmation email. You can track the status of your complaint online by logging into your Maha RERA account.

Key Differences Between RERA and Maha RERA

There are a few key differences between RERA and Maha RERA. These differences are:

·        Jurisdiction:

RERA is a central law, while Maha RERA is a state law. This means that RERA has jurisdiction over all real estate projects in India, while Maha RERA has jurisdiction over only real estate projects in the state of Maharashtra.

·        Additional requirements:

Maha RERA has imposed some additional requirements on real estate developers in Maharashtra. For example, Maha RERA requires developers to deposit 70% of the sale proceeds from their projects in a separate escrow account. This account can only be used for the development of the project and cannot be used for any other purpose.

·        Dispute resolution mechanism:

The dispute resolution mechanism under Maha RERA is slightly different from the dispute resolution mechanism under RERA. Under Maha RERA, homebuyers can file complaints online through the Maha RERA website. Maha RERA will then investigate the complaints and try to resolve them through mediation. If mediation is unsuccessful, the matter will be referred to the Maha RERA Tribunal for adjudication.

Benefits of RERA and Maha RERA for Homebuyers

RERA and Maha RERA also offer the following benefits to homebuyers:

·        Protection from fraudulent developers:

RERA and Maha RERA have made it more difficult for fraudulent developers to operate in the market. Developers must now register their projects with the RERA or Maha RERA authority and disclose all relevant information about the project. This helps to reduce the risk of homebuyers being cheated by fraudulent developers.

·        Reduced risk of project delays:

RERA and Maha RERA have imposed strict timelines for project completion. If a developer delays the delivery of a project beyond the stipulated timeline, homebuyers are entitled to compensation. This helps to reduce the risk of homebuyers having to wait for years for their properties to be completed.

·        Fair pricing:

RERA and Maha RERA have made it illegal for developers to charge unfair prices for their properties. Developers must now disclose all relevant information about the project, including the pricing, to homebuyers. This helps to ensure that homebuyers pay a fair price for their properties.

·        Stronger grievance redressal mechanism:

RERA and Maha RERA have established strong grievance redressal mechanisms for homebuyers. If a homebuyer has a complaint against a developer, they can file a complaint with the RERA or Maha RERA authority. The authority will then investigate the complaint and try to resolve it through mediation. If mediation is unsuccessful, the authority can pass an order in favor of the homebuyer.

Conclusion

RERA and Maha RERA are both important pieces of legislation that protect the interests of homebuyers. RERA is a central law that has jurisdiction over all real estate projects in India, while Maha RERA is a state law that has jurisdiction over real estate projects in the state of Maharashtra. Maha RERA has imposed some additional requirements on real estate developers in Maharashtra, such as the requirement to deposit 70% of the sale proceeds from their projects in a separate escrow account. The dispute resolution mechanism under Maha RERA is also slightly different from the dispute resolution mechanism under RERA.