MahaRERA order developers to disclose sold, booked inventoryPropertyWala.com

The format requests data such as a total number of floors/wings, number of floors/shops/ townhouses, carpet area, sold/reserved/unsold property. And the date of registration at the sub-registrar’s office.

AURANGABAD: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ordered all developers to unveil their inventory. This includes the sale of apartments, houses, land, booked flats, as well as other construction details. This database is important because it will provide greater clarity to buyers and prevents more than one transaction.

Information in proper format-

MahaRERA asked developers to provide details in the prescribed format. Referring to the permissible provisions of the Real Estate (Regulation and Development) Act 2016, which has been in force since May 2017.

Currently the CREDAI Maharashtra has 3,000 active members in 59 cities across the state.

According to RERA, any aggrieved buyer can file a complaint with the competent authority. In relation to a real estate project that has been registered for violating any laws or rules and regulations related to RERA. The authority can put in place a complaint access mechanism to deal with such complaints quickly. Anyone who feels dissatisfied by an instruction, decision, or order from MahaRERA or a judicial officer. He/She can appeal to the appellate court and then to a higher court.

CREDAI welcomed MahaRERA decision-

Confederation of Real Estate Developers Association of India (CREDAI), Maharashtra, has appreciated this decision of the MahaRERA. Officials from CREDAI said this decision aimed at corrupt developers who are not registered with the association’s offices in the state.

Sunil Furde, CREDAI Maharashtra president said- “We appreciate and welcome the new MahaRERA order, which seems to be aimed at eliminating illegal construction, which is mainly seen in small towns.

Now the developers will disclose or announce the number of sold units and upload the details to the MahaRERA website in accordance with legal requirements. CREDAI correctly accepts the MahaRERA circular as defined by developers who do ethical business and comply with the law.