+
Builders to provide MahaRera with project details
Real Estate

Builders to provide MahaRera with project details

The promoters of real estate projects that have been registered with any Real Estate Regulatory Authority (Rera) across the nation are required to provide their details for homebuyers to be able to make an informed decision, per a MahaRera order issued on December 27, 2022. The promoters could be owners, partners, or directors of other businesses.

The MahaRera disclosure form requires the promoter to provide Rera registration details, such as the anticipated completion date and any outstanding Rera complaints, for the projects in which they are involved. The promoter must also disclose on the form any warrants Rera may have issued against the project as well as any revocations of the project.

"Builders frequently work on numerous real estate projects throughout Mumbai and India. Builders advertise a number of new projects while ignoring or making vain attempts to finish the projects that have been in limbo for years. A greater level of transparency is what the regulator wants to achieve. The action is crucial to understanding the promoters' sincerity and authenticity since it determines their ability to do business with honesty and upstanding morals. At the same time, it draws buyers to their projects." said MahaRera Bar Association secretary and advocate Anil Dsouza.

Vinod Sampat, an advocate, said: "Many promoters mislead buyers. The promoter's involvement in other projects is occasionally not disclosed, and other projects sometimes run into severe problems such as bank liabilities, delayed competition, and legal issues."

The Real Estate Regulation and Development Act (RERA) mandates that the authority post information on all defaulting promoters, including details about the project for which the registration has been revoked or the promoters have been penalised, on its website.

See also:
MahaRERA relaxes rules to speed up construction of rural projects
MREAT sets aside MahaRERA order on realty portals' listing as agent


The promoters of real estate projects that have been registered with any Real Estate Regulatory Authority (Rera) across the nation are required to provide their details for homebuyers to be able to make an informed decision, per a MahaRera order issued on December 27, 2022. The promoters could be owners, partners, or directors of other businesses. The MahaRera disclosure form requires the promoter to provide Rera registration details, such as the anticipated completion date and any outstanding Rera complaints, for the projects in which they are involved. The promoter must also disclose on the form any warrants Rera may have issued against the project as well as any revocations of the project. Builders frequently work on numerous real estate projects throughout Mumbai and India. Builders advertise a number of new projects while ignoring or making vain attempts to finish the projects that have been in limbo for years. A greater level of transparency is what the regulator wants to achieve. The action is crucial to understanding the promoters' sincerity and authenticity since it determines their ability to do business with honesty and upstanding morals. At the same time, it draws buyers to their projects. said MahaRera Bar Association secretary and advocate Anil Dsouza. Vinod Sampat, an advocate, said: Many promoters mislead buyers. The promoter's involvement in other projects is occasionally not disclosed, and other projects sometimes run into severe problems such as bank liabilities, delayed competition, and legal issues. The Real Estate Regulation and Development Act (RERA) mandates that the authority post information on all defaulting promoters, including details about the project for which the registration has been revoked or the promoters have been penalised, on its website. See also: MahaRERA relaxes rules to speed up construction of rural projects MREAT sets aside MahaRERA order on realty portals' listing as agent

Next Story
Infrastructure Urban

Indofen Uses Siemens Xcelerator to Power Smart Foundries

Indofen Furnaces LLP has implemented Siemens' Industrial Edge-based Performance Insight from the Siemens Xcelerator portfolio to digitise aluminium recycling and foundry operations. The solution enables real-time data visibility and smarter process control."Siemens Performance Insight provides our customers a comprehensive view of furnace performance including metal charging, fuel usage, and temperature," said MD Ezhil Kumar. The integration improves fuel efficiency, quality control, and predictive maintenance.Suprakash Chaudhuri, Head of Digital Industries at Siemens India, stated, "This coll..

Next Story
Equipment

CASE Launches 'Shilpi' to Train Youth in Backhoe Servicing

CASE Construction Equipment, a CNH brand, has launched Project Shilpi to provide skill training in backhoe loader servicing to underprivileged youth. This CSR initiative targets ITI and diploma holders aged 18 and above, offering a three-month programme including theoretical and hands-on practical training."Project Shilpi addresses a critical gap in the construction equipment industry by preparing youth with job-ready skills in backhoe loader servicing," said Kavita Sah, India CSR Head at CNH.The curriculum includes a boot camp, 26 hours of online training, 520 hours of hands-on learning, and ..

Next Story
Infrastructure Urban

Vedanta and ICAR-CTCRI Partner to Convert Red Mud for Farming

Present at the MoU signing were Kerala Governor Rajendra Vishwanath Arlekar and senior ICAR-CTCRI scientists, including Director Dr. Byju. CEO Rajiv Kumar stated, "We are laying the foundation for a future where industrial by-products such as red mud are effectively repurposed as environmental assets."Vedanta has already reduced bauxite residue by 30% and pioneered Zero Liquid Discharge technology. It also built India’s first Bauxite Residue Processing Plant.Dr. Byju called the partnership a milestone that combines scientific and industrial strength to support land transformation and farmer ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?