A BRIEF INSIGHT INTO PERFORMANCE OF MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY (MAHARERA)

Abstract

The Central Government has enacted and regulated the real estate Regulation and Development act (RERA Act, 2016) and the implementation of all the sections from the RERA Act, 2016 were brought into regulation form 1st May, 2017.Under this Act the Maharashtra government has passed the regulatory functions for the regulation of RERA Act in Maharashtra for this Maharashtra government passed the circular No.23 dated on 8th March, 2017 and accordingly the MahaRERA established. Since the establishment of MahaRERA in Maharashtra this authority has brought Transparency, Accountability in the real estate sector and gradually promoted the services in financial discipline and trust. The authority avails the fully paperless work and online transactions and its completely transparent office which came on 1st may, 2017 for the smooth functioning of this sector the MahaRERA has established two regional offices at Pune and Nagpur district. As a results of this the MahaRERA is receiving amazing crowed and innumerable registrations not only from real estate sector projects but also real estate agents. After regulation of the MahaRERA in Maharashtra most of the pending dispute cases are solved and many of them are disposed under this authority.