Minister of State (Independent Charge) for Housing and Urban Affairs, Hardeep Singh Puri inaugurated first regional workshop on RERA in Pune. It’s objective is to provide positive solution to the problems of home buyers.
It was inaugurated at the “First Regional Workshop on RERA – a New Era of Transparency and Accountability in Real Estate – 2 years of implementation and way forward (Western Region)”. It has been established under the Real Estate (Regulation and Development) Act, 2016.
Real Estate Regulatory Authority (RERA) :
- It was launched in 2016 is aimed at consumer protection, by creating an online system for information sharing in the real estate sector.
- It allows states to set up the Regulatory Authority and the Appellate Tribunal for transparency.
Few Features of RERA are :
- Imposing clear responsibilities on consumers and developers,
- Transparency of contractual conditions,
- Set minimum standards of accountability, and
- A fast-track dispute resolution mechanism.
Maharashtra is one of the first states to implement the provision of RERA.It has also established the Real Estate Regulatory Authority of Maharashtra, which is popularly known as MahaRERA. It also has the highest number of Projects and Real Estate Agents registered with Authority.