MahaRERA employs agency for real-time project oversight

16 Aug 2023 CW Team

The Maharashtra Real Estate Regulatory Authority (MahaRera) has taken a significant step towards ensuring greater transparency and adherence to regulations within the real estate sector. In a bid to enhance its monitoring capabilities, MahaRera has enlisted the support of a specialised real estate intelligence agency. This agency will play a pivotal role in providing real-time updates on various aspects of projects, such as their current status, financial health, and adherence to regulatory obligations.

The agency's role encompasses tracking projects that have faced lapses, financial strain, or non-compliance with submission of required reports. It will also furnish MahaRera with on-site imagery and progress milestones, creating a parallel mechanism for accurate project assessment. This move is aimed at bolstering MahaRera's capacity to take corrective measures against developers found providing false information or violating compliance standards.

MahaRera's decision to collaborate with this intelligence agency underscores its commitment to ensuring fair and transparent practices in the real estate sector. By leveraging advanced technical expertise and a comprehensive database, the agency will contribute to a more robust and accurate oversight of real estate projects, enabling suitable actions to be taken based on verified project statuses.

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