With RERA bringing in a number of clauses for the builders, the home buyers are no more left deep into confusions, as was the scenario before.
The decision of slapping penalty to the builders has already been into effect. According to section 3 of the Act, no lean-to action for registration of projects will be entertained and the builders for not registering their residential as well as commercial properties will be reprimanded under section 59 of the act. The extent of punishment will be dogged based on the severity of action.
However, with the homebuyers making the best use of this scenario, filing complaints against realty builders has risen to a significant extent and the total number of such whinges indexed with MahaRERA (Maharashtra Real Estate Regulatory Authority) has now soared upto 55. The authority has already started considering these complaints on a serious note and out of these, six complaints have been taken to the next stage in order to be handled on a serious note. Also, two complaints have already been concluded with the hearings on board. The final hearing will be done by the end of this month.
Delay in project delivery and issues in signing agreement are the two common hitches the homebuyers are bothered about. The number of complaints filed with MahaRERA had already touched 30 before 15th August and now, it has crossed even 50.
Also, with MahaRERA stating a stern regulation for the builders to register projects, around 13,000 applications have already been filed till date out of which 8,000 projects are already under process. As per the statement of Gautam Chatterjee, the chairman of MahaRERA, the information of all the registered projects will be available on the portal from 1ST September, 2017.
Moreover, the authority will also be probing into the complaints against those builders whose projects are yet to be registered. The home buyers are also suggested to send direct emails to the regulator and clear their doubts at any point of time.