MahaRERA plans to revolutionise real estate by proposing a discussion paper for user-friendly quality guidelines.
MahaRERA has planned to propose a discussion paper on quality guidelines for real estate projects in the state, aiming to safeguard the interests of homebuyers.
Ajoy Mehta, the chairman of MahaRERA, stressed the importance of this move. He pointed out that a huge 1.6 crore citizens in Maharashtra are eagerly waiting for their homes, while around 14 lakh homes are currently under construction. This massive demand highlights the need for good-quality housing, and the government recognises this.
While the basic regulations will remain unchanged, there will be a greater focus on the on-time construction, delivery, and maintenance of housing quality. Ajoy Mehta stated that MahaRERA is working on an act to monitor construction and housing quality, which will help resolve disputes related to quality issues. This act ensures a smooth and efficient delivery of homes.
Ajoy Mehta emphasised, “If a project has a RERA number, it must be delivered on time and with the promised quality.” Currently, this act is in the discussion stage, with many more details to follow.
Atul Save, the Minister of Housing for the Government of Maharashtra, expressed the government’s commitment to provide good housing facilities to every citizen in the state and to resolve every issue within the real estate sector to achieve the desired goal.
Additionally, Sandeep Runwal, the president of NAREDCO Maharashtra, announced the RealTech Fund (RTF) launch with an initial fund of Rs 50 crore, which aims to drive technological innovations in the real estate sector and promote entrepreneurship.
Niranjan Hiranandani, the vice-chairman of NAREDCO National, stressed the need for more housing initiatives with the growing urban infrastructure projects. The real estate sector aspires to provide every person a home. Initiatives like reducing stamp duty and registration charges are being considered to boost housing demand.
Also, NAREDCO Maharashtra has expanded its reach by unveiling two new state chapters in Karad (Satara district) and Akola, strengthening their commitment to quality housing for all.