+
MahaRERA demands to make information about flats sold public
Real Estate

MahaRERA demands to make information about flats sold public

The Maharashtra Real Estate Regulatory Authority (MahaRera) has now directed builders to publicly disclose if an apartment has been sold or booked or mortgaged, following an increase in complaints about builders illegally reselling the same flat to multiple buyers.

A leading property consultant told the media that the flats are sold to any other allottee without the knowledge of the first allottee.

The same apartment could even be mortgaged to a bank.

In that case, neither the first nor the second allottee, nor the financial institution, is aware that the flat is being sold.

He went on to say that the developer raises money illegally from two to three different parties for the same flat.

Purchasers should check the RERA website to see if the project is registered and building approvals have been obtained, according to lawyer Anil Harish, an expert on property laws.

He advised the buyers to demand a lender's release for the property in question, as well as a search of the sub-records registrar's for title and mortgages.

According to experts, if more than 10% of the flat's value is paid, the buyer must register the agreement.

In order to encourage people to register, Harsh suggests that the stamp duty on an allotment letter, a letter of intent, or an MOU could be 1% of the price.

This 1% must be deducted from the stamp duty on the agreement, leaving only the remaining 4% to pay.

Image Source


Also read: MahaRera directs asks builders to reveal permission details to buyers

The Maharashtra Real Estate Regulatory Authority (MahaRera) has now directed builders to publicly disclose if an apartment has been sold or booked or mortgaged, following an increase in complaints about builders illegally reselling the same flat to multiple buyers. A leading property consultant told the media that the flats are sold to any other allottee without the knowledge of the first allottee. The same apartment could even be mortgaged to a bank. In that case, neither the first nor the second allottee, nor the financial institution, is aware that the flat is being sold. He went on to say that the developer raises money illegally from two to three different parties for the same flat. Purchasers should check the RERA website to see if the project is registered and building approvals have been obtained, according to lawyer Anil Harish, an expert on property laws. He advised the buyers to demand a lender's release for the property in question, as well as a search of the sub-records registrar's for title and mortgages. According to experts, if more than 10% of the flat's value is paid, the buyer must register the agreement. In order to encourage people to register, Harsh suggests that the stamp duty on an allotment letter, a letter of intent, or an MOU could be 1% of the price. This 1% must be deducted from the stamp duty on the agreement, leaving only the remaining 4% to pay. Image Source Also read: MahaRera directs asks builders to reveal permission details to buyers

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code