What is MahaRERA? Process To Check MahaRERA Number & Registration

MahaRERA helps to maintain transparency between the buyer and developer while transacting any money for a project. Check this article to know about how to check the MahaRERA number of any project and how to register. 

What Is MahaRERA? 

MahaRERA (Maharashtra Real Estate Regulatory Authority) controls the Maharashtra real estate sector. This includes registering the real estate projects, the real estate agents, the rate of interest, etc. 

As per the RERA Act 2016, under MahaRERA, the projects in Maharashtra, Daman & Diu, and Dadar and Nagar Haveli are registered and regulated.  

Registering a project is important under the Maharashtra Real Estate Rules, 2017. Any commercial or residential project in Maharashtra is not permitted to sale or advertised without proper registration under MahaRERA. 

Features Of MahaRERA

The factors of MahaRERA are provided in the following: 

• The MahaRERA Act helps in registering the projects and the agents
• Provides transparency while selling or buying flats, buildings, and plots
• Protects the parties who are involved in the real estate transaction like real estate agents, clients, allottees, and developers 
• If there is any dispute, then it should be resolved through the dispute resolution method
• Creating a board that will help the buyers to resolve the issue
• Appropriate governments can also receive ideas on the development and promotion of real estate project

Benefits Of MahaRERA

There are many benefits of MahaRERA which are the following:

• Good accuracy: Before the RERA Act, there was no transparency between the broker, real estate agent, and the buyer. Now, the customers receive all the relevant information about the project, and the developer has to adhere to the rules. If there are any delays, the required party will be penalized. 
• Maintains the law and order: The developers now cannot funnel funds and utilize the amount for other projects. Downpayment is fixed at 10% and the penalty action includes a financial penalty with imprisonment for a minimum of 3 years. 
• Accountable: The developers are accountable to maintain 70% of the funds for a specific project in a single account. The Developers should also report any progress to a regulatory authority. 
• Improved trust: The customers now trust the real estate sector and the developers due to the transparency brought by the MahaRERA rules. 

Challenges Of MahaRERA

There are some challenges faced by the MahaRERA which are:

• Getting correct information on the pricing of an apartment and escrow accounts
• Solving numerous issues related to compliance and transparency between the broker and buyer
• The project registration process can be time-consuming for some of the developers under MahaRERA. 
• There are very few strict deadlines which help the developers to delay with completion of their project
• Some developers are not well-known in the technology, hence, the registration process becomes difficult for them

The Process To Register In MahaRERA 

The process to register in MahaRERA, you can follow the below steps:

Step 1: Visit the official website @maharera.mahaonline.gov.in

Step 2: Click on ‘Online Application’ option from the home page. It will redirect you to a new page 

Step 3: Click on the ‘New Registration’ option 

Step 4: Select user type and provide required information

Step 5: Verify the email address and login to your account

Step 6: Submit information based on your selection. 

How To Check MahaRERA Project Details & Number

A promoter or a real estate agent can check the details of their project by following the below process. 

Step 1: Visit the official website @maharera.mahaonline.gov.in

Step 2: Click on the ‘Registration’ option on the home page

Step 3: Click on the ‘Registered Projects’ option from the scroll-down menu. It will redirect you to a new page

Step 4: Click on ‘Registered Projects’ or your preferred option

Step 5: Provide the project name, promoter name, and MahaRERA registration number

Step 6: Click on Search Button 

Step 7: You can also do Advanced Search by clicking on the Advanced Search button providing the required information

Step 8: Your details will be available below. You can take a printout of the details for future reference 

Details Displayed On MahaRERA

The below details are displayed on the MahaRERA:

• Organization name: You can view the name and the contact details of the project along with comprehensive information regarding the previous projects in past five years. 
• Details of experience: This section includes the information regarding the developer so that any buyer can verify the details. 
• Project details: The details of the project are specified like its name, address, status, project type, area, total building count in the project, etc. 
• FSI details: Description of Floor Space Index (FSI) are provided including approved built-up area, proposed but not sanctioned built-up area, etc. 
• Bank details: Bank details of the developer is stated here.
• Development work: This states the amenities and the infrastructure provided in the specific project. 
• Building details: Building details like several buildings proposed for construction, and how many are completed till now. This also includes the proposed date of completion.  
• Project professional information: Details on collaborations and vendors of that project.
• Litigation details: Details on litigation of different projects are stated. 
• View documents: The buyer or client and view or download related documents of the project like a copy of the legal title report, details of encumbrances, etc. 

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