{"id":52195,"date":"2021-05-11T18:13:10","date_gmt":"2021-05-11T12:43:10","guid":{"rendered":"https:\/\/navimumbaihouses.com\/blog\/?p=52195"},"modified":"2021-06-15T11:45:03","modified_gmt":"2021-06-15T06:15:03","slug":"what-is-maharera-and-why-is-it-important-factor-in-real-estate","status":"publish","type":"post","link":"https:\/\/navimumbaihouses.com\/blog\/news\/what-is-maharera-and-why-is-it-important-factor-in-real-estate\/","title":{"rendered":"What is MahaRERA and Why Is It Important Factor in Real Estate?"},"content":{"rendered":"

A specific public body in a major state regulates the real estate industry. Real estate<\/a><\/strong> is any property that can be bought and sold as an investment, such as an apartment, plot, government land, or a home. Real estate regulations include taxes, recording information about each transaction, and inspection standards.<\/p>\n

What is MahaRERA?<\/strong><\/h3>\n

The Maharashtra state government has established a state body, the Maharashtra Real Estate Regulatory Authority (MahaRERA) to regulate the real estate sector in Maharashtra.<\/p>\n

What is the MahaRERA number?<\/strong><\/h3>\n

The government body MahaRERA assigns a specific 12 digit number to the specific project which is unique and defines the project as a MahaRERA complaint.<\/p>\n

Why Developers Need MahaRERA number?<\/strong><\/h3>\n

Developers need MahaRERA because by law without MahaRERA registration real estate developers are not permitted to advertise, book or sell any real estate property.<\/p>\n

How RERA will benefit buyers?<\/strong><\/h3>\n

The main intention of the RERA act<\/b> is to provide relief to the property buyers from any kind of malpractices or unfair builders or real estate agents. RERA<\/b> specifies certain norms, acts, and regulations for the development of buildings. These norms enhance the transparency in transactions in the real estate sector. When the RERA<\/b> act came into action in 2017 it has shown a direct impact on the property prices of the home, land, apartments, and also the home loan interest rates.\u00a0 MahaRERA is a buyer-friendly guide for the Realtor to keep the procedure transparent.<\/p>\n

Why RERA is an important factor to look after while buying a new property?<\/strong><\/h3>\n

RERA\u2019s main purpose is to create a more transparent environment for property buyers, by increasing the accountability of builders.<\/p>\n

The RERA is useful for the consumer as well as for the builder. With the help of RERA, the builder can generate a trust factor for their clients which eventually helps them buying property. Because the property is a huge investment and trust part is the crucial factor while buying property.<\/p>\n

MahaRERA Takes Care of the following required things to Keep the procedure Transparent:<\/strong><\/h3>\n