RERA Act will bring transparency in real estate sector, says MahaRera regulator Chatterji

The Maharashtra Real Estate Regulatory Act, 2016 (MahaRera) will bring transparency and discipline in the real estate sector, said Gautam Chatterji, IAS and state regulator, RERA, Maharashtra.

"It will make things easy and there is nothing to fear for those who follow the law," said Chatterji, while speaking at a workshop on 'RERA Rules and Regulations' organised by CREDAI-Maharashtra and attended by Satish Magar, president elect of Credai-National, Suhas Merchant, Credai-National RERA Committee member, Shantilal Kataria, president of CREDAI-Maharashtra, Shrikant Paranjape, President of Credai-Pune Metro.

Explaining the salient features of MahaRera, Chatterjee said, "Maharashtra has been always a pioneer state in the housing sector. We should all be proud that the state has been first to notify and implement the Act. All dealings in the real estate are to be done online only after May 1, 2017. We have adopted the policy of 'zero footfall-zero paper'. The MahaRera will bring transparency and discipline. It will bring trust between the developers and their customers. We are only a medium of building this relationship of trust. We will help in every possible way to help the builders."

He advised the developers to be truthful with the information they are providing. "You should own up the information and ensure that the correct information is fed. All parts of state, regardless of rural or urban, will fall under the jurisdiction of MahaRera. You will be responsible for the wrong information, hence those outsourcing the task of registering their projects on the MahaRera website should be careful to check the data," he said.