“Understanding RERA: What Every Mumbai Homebuyer Should Know”

🏗️ Why RERA Matters to Mumbai Homebuyers

Mumbai’s dynamic and high-stakes property market has long been marred by project delays, inflated costs, and false promises. RERA helps mitigate these issues by enforcing:

🔒 Transparency

• Developers must disclose detailed project information on the MahaRERA portal, including layout plans, timelines, legal approvals, and financials.

📅 Timely Possession

• If the builder delays handover, buyers are entitled to compensation or refunds with interest.

🧾 Standardization

• Properties must be sold based on carpet area, not the misleading built-up or super built-up areas.

💰 Secure Payments

• 70% of buyer payments must be deposited in an escrow account, ensuring funds are used only for that specific project.

⚖️ Legal Protection

• Buyers can file complaints directly through the MahaRERA website, with faster resolution compared to civil courts.

🔍 How to Verify a Project on MahaRERA

1. Go to: https://maharera.mahaonline.gov.in

2. Click on “Registered Projects”

3. Enter project name, developer name, or registration number

4. Review important project details including completion status and agent info

📝 Before You Buy: RERA Compliance Checklist

✅ Is the project MahaRERA registered?
✅ Is the agent RERA certified?
✅ Have you reviewed the carpet area and possession timeline?
✅ Does the agreement for sale mention penalties for delay?
✅ Have you visited the MahaRERA portal to verify facts?