Buying a home is one of the biggest life decisions a person can make. For years, the process was often filled with stress, hidden details and long waits. However, recent shifts in the industry mark a major turning point for real estate in Maharashtra. The state’s regulatory body, MahaRERA, has introduced several “benchmarks” designed to put the power back into the hands of the common man.
Transparency at your fingertips. One of the most exciting changes is the mandatory use of QR codes. You may have noticed them in newspaper ads or social media posts for new buildings. By simply scanning this code with your phone, you can see the project’s entire history. This includes whether the land is legally cleared, if the building has the right permissions and most importantly, if the developer has a history of finishing projects on time. No more relying on verbal promises from salespeople, the truth is now on your screen.
Holding developers accountable. In the past, if a developer didn’t follow the rules, the punishment was often just a small fine. Now, the stakes have been raised. Under the MahaRERA new guidelines, the authority has started suspending projects that fail to update their progress every three months. If a project is suspended, the developer’s bank accounts are frozen. This ensures that the money you pay is used only for building your home, not for starting other projects.
Fair play in amenities. We have all heard stories of people buying a luxury flat only to find their parking spot is in a completely different building. New rulings have fixed this. Rules now state that essential features like parking must be located conveniently close to the specific wing where the buyer lives. It is no longer just about giving you a “spot”, it is about providing the convenience you were promised during the sale.
Faster justice for all. If things go wrong, nobody wants to spend years in a courtroom. A new “60-day rule” for compensation has been introduced. If a developer is ordered to pay a buyer for delays or issues, they must do so within two months. Additionally, if you need to attend a legal hearing, you can now do it from your home via a video call. This “hybrid” system makes it much easier for senior citizens or busy professionals to get justice without traveling to a government office.
Better-trained agents. Real estate agents are the bridge between the buyer and the builder. To ensure you get the right advice, all agents must now pass a competency exam. This means the person helping you find a home is officially trained and understands the latest laws, protecting you from misinformation.
Conclusion: These regulatory changes are making the Maharashtra property market one of the safest in the country. By focusing on accountability and easy-to-access information, the government is ensuring that your dream home doesn’t turn into a legal headache.
Also read – Sky-high growth: How the new airport is transforming Navi Mumbai real estate
Disclaimer – This article is for informational purposes only and does not constitute legal or financial advice. Readers should verify all project details on the official MahaRERA website before making any investments.
Source – Realty Today
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