Maharashtra Govt Notifies RERA Rules to Set Up Realty Regulator

Maharashtra government has notified the rules regarding the establishment of Real Estate Authority in the state. Other rules containing more important sections of the act such as tribunal rules, registration of promoters and penalty will be notified in next two days, top government officials said.

Around three weeks back Maharashtra Chief Minister Devendra Fadnavis had approved the RERA rules which are now with the Law and Judiciary department. 

They just notified rules relate to setting up of the Real Estate Regulatory Authority.

Meanwhile, members of Mumbai Grahak Panchayat Manch have written to the Chief Minister, expressing their concern about small housing projects getting excluded from the Maharashtra RERA.

Members have pointed out that Section 3 of the Act makes registration of real estate projects mandatory for all projects coming up on 500 sqm meters or 8 appartments and more. However, Sub Section 3(2)(a) of the Act empowers the state to lower this benchmark.

“If the threshold limit of 500 SQ. mtrs or 8 apartments is not reduced then a large number of housing projects will be left out of the ambit of RERA. In case the change is not done then this Section is bound to be grossly misused by the unscrupulous builders to escape the clutches of the RERA and they would thus remain free to exploit, cheat and fleece the homebuyers," Shirish Deshpande, Chairman, Mumbai Grahak Panchayat said in the letter to the Chief Minister. 

Once all the rules get notified, Maharashtra will be one of the very few states to comply with the April 30 deadline for RERA rules notification and setting up the regulator.

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