Understanding the need and importance of RERA rules and regulations

NAREDCO along with KPMG come together for knowledge seminar on MahaRERA  National Real Estate Development Council (NAREDCO) Maharashtra took a special initiative of explaining the RERA rules and regulations to the various stakeholders in the real estate sector by organising a session where all members were present to understand the need and importance of the policy. The session opened with the statement given by Dr Niranjan Hiranandani, President, NAREDCO (West), where he stated that RERA is a good initiative launched by the Government of India with a special mention of RERA Chief Gautam Chatterjee. He said, “Maharashtra will complete the registrations with RERA within the deadline assigned by the government, and this is all thanks to our new Chief Regulator Gautam Chatterjee, who deserves a standing ovation for the kind of dedication he has shown towards the initiative.” The session proceeded with Chatterjee’s presence on the dias explaining the RERA registrations in depth so as to add clarity in the minds of all stake holders. He spoke mainly on the pre-registration aspects since there are many developers who are yet to be registered. He said, “Maharastra Day and MahaRERA were launched on the same day. We were the only state to be ready on April 30 to start registrations on May 1.” He continued to go about the registration process, post which the Chief Minister arrived at the event. Devendra Fadnavis, Chief Minister of Maharashtra, felicitated the occasion and brought with him a wave of positivity and thanked NAREDCO for the support and effort they have taken to provide the much-needed awareness about the entire process. “RERA is not a beginning of a police-Raj, but rather it is the facilitator of transparency in the sector. The rules stated in MahaRERA are not just consistent but also practical which will boost the business as well as safeguard the consumers. As tough as the registrations seem now, you will realise the benefits one year down the line,” said Fadnavis. The event took a new high with the unveiling of the RERA book by the Chief Minister; Rajan Bandelkar; Niranjan Hiranandani and Neel Raheja, Senior Vice-President NAREDCO. The evening thus ended by a vote of thanks bestowed by Rajan Bandelkar, Vice President, NAREDCO (West), where he expressed his gratitude towards the Chief Minister, DevendraFadnavis; GautamChatterjee, Chairman MahaRERA, and all the stakeholders of the real estate sector who were present at the knowledge seminar conducted by NAREDCO. He assured the Chief Minister saying, “All the developers under NAREDCO Maharashtra will register under RERA Act before the end of the deadline which is July 31, 2017.”