The Real Estate Regulatory Authority (RERA) became effective in India on May 1st, 2016. Its primary objective is to enhance transparency and address the concerns of various stakeholders within the real estate sector, including homebuyers, builders, and brokers.
Under RERA, real estate developers are legally obligated to keep homebuyers informed about the progress and status of their projects.
Moreover, developers are bound by law to deliver properties within stipulated timelines and comply with all regulations outlined by RERA to ensure their accountability.
The implementation of stringent penalty clauses, coupled with increased awareness among homebuyers, has successfully purged the market of unscrupulous players, leaving behind only reputable developers with proven track records. This has driven market growth both organically and through consolidation.
It’s imperative for homebuyers to thoroughly examine the details of developers and their projects to ensure transparency.
Understanding key aspects such as project layout, approved plans, carpet area, and support infrastructure is essential for making informed decisions and minimizing errors.
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This article provides a guide on how to verify the RERA details of a project that captures your interest.
How to Check RERA Registered Projects Details Online?
If you’re scouting for new projects in cities like Mumbai, Bangalore, or elsewhere, here’s a straightforward process to find relevant details:
- Open Google and search for “Maharera”.
- Access the official RERA website of your state. For example, for properties in Mumbai, visit the Maharashtra State RERA or MahaRERA website.
- Navigate to the “Registered Projects” section under the “Registration” tab.
- Input specific details like developer, locality, and area to refine your search. You can also use the map view option to pinpoint the project on Google Maps, which conveniently links to all RERA-registered projects.
- Click on the project name to delve deeper into details such as promoter information, project specifics, and uploaded documents.
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A Quick Look at the Details Displayed on RERA
You can find the specific details of a real estate developer by visiting the RERA website of the respective state.
Organisation
- This section provides details about a specific real estate development organization, including their contact information and a comprehensive overview of their projects completed in the last five years.
- It also includes the organization’s type and official website.
Past Experience Details
- Here, you’ll find information on the previous professional backgrounds of key personnel within the organization, including authorized signatories. This allows prospective buyers to assess the track record of these individuals.
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Project
Under this section, you can explore specifics about a particular project undertaken by the real estate developer. This includes:
- Project Name
- Project Address
- Project Status
- Proposed Completion Date
- Litigation Status
- Project Type
- Promoter Details (as per MahaRERA order)
- Plot Details
- Geographic Coordinates
- Location Details
- Project Area
- Building Counts
- Recreational Open Space Are
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FSI Details
This section outlines the Floor Space Index details of the project, including proposed and approved built-up areas, as well as the total FSI.
Bank Details
Here, you’ll find important banking information related to the real estate developer, including bank name and branch IFSC code, along with details about project finances.
Project Details
In this segment, you’ll find the following project particulars:
- Quantity of Garages (Projected, Reserved, and Percentage of completion)
- Quantity of Covered Parking Spaces (Projected, Reserved, and Percentage of completion)
Development Work
- This section provides information on the various amenities and infrastructure within the project, along with the percentage of completion for each.
- It covers areas such as roads, water conservation, energy management, and more.
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Building Details
- Details regarding the buildings within the project, including proposed or completed construction, completion dates, and apartment types (e.g., 1-BHK, 2-BHK).
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- You can move in immediately without having to wait for construction to complete, saving both time and hassle.
Project Professional Information
Information about the project’s collaborators and vendors, including architects, structural consultants, and real estate agents.
Litigation Details
This section offers insights into any legal matters associated with the project, aiding in decision-making for potential investors.
Uploaded Documents
The “Uploaded Documents” section grants access to vital project-related documents, such as:
- Legal Title Report
- Encumbrances Details
- Layout Approval Copy
- Building Plan Approval
- Commencement Certificates/NA Order for Plotted Development
- Declaration in Form B
- Allotment Letter and Sale Agreement Proforma
- Legal Entity Formation Status
- Conveyance Status
- Other Relevant Documents
RERA holds both real estate developers and agents accountable. Agents must register with RERA before engaging in any project. The website lists authorized agents for specific projects.
According to RERA, agents cannot facilitate transactions without a RERA registration number, including sales, purchases, or representation in real estate deals.
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How to know which MahaRERA-registered projects have expired?
MahaRERA regularly updates information regarding real estate developments that have been completed but left unfinished. These are projects whose registrations were initially filed but later expired due to various reasons, such as non-renewal.
Once a project’s registration expires, the marketer is strictly prohibited from any form of marketing, booking, selling, or offering for sale any apartment, building, or land within the project.
To identify these expired projects, follow these steps:
- Visit the MahaRERA website at maharera.mahaonline.gov.in.
- Navigate to the ‘Lapsed Projects’ section under the ‘Registration’ tab. Here, you’ll find a list of expired projects displayed chronologically.
Conclusion
RERA offers buyers the most comprehensive access to essential project details, eliminating dependence on flashy brochures from developers.
Before investing in new projects across cities like Mumbai, Bangalore, or anywhere else in India, it’s prudent to thoroughly review the regulatory website.
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Frequently Asked Questions
What is RERA and MahaRERA?
Each state operates under a Real Estate Regulatory Authority (RERA) to oversee real estate matters. In the case of Maharashtra, MahaRERA denotes the regulatory body specific to the state, responsible for governing real estate projects within Maharashtra.
How to search MahaRERA project details?
To access the MahaRERA website, visit https://maharerait.mahaonline.gov.in/searchlist/search. From there, choose between Registered Projects, Registered Agents, or Revoked Projects. Then, input the project or agent name, along with the promoter’s name, to retrieve the details of your chosen project.
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