🏗️ 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
Click on “Registered Projects”
Enter project name, developer name, or registration number
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?
nice