Tuesday, May 30, 2017

Luke worm response to RERA site


PUNE: After four weeks since the Real Estate Regulatory Authority (RERA) came into force in Maharashtra, but only 12 projects and 900 agents have so far registered under the new regulatory regime across the state.

Three builders have registered in Pune division, eight in Konkan and one in Nagpur division. The remaining divisions are yet to have any registration, RERA officials said.

Under the new rules, developers and agents have 90 days' time from May 1 to register under RERA Act, which means they have to do so before July 31. The MahaRERA is expected to bring about transparency in the system.

Gautam Chatterjee, chairman, Maharashtra Real Estate Regulatory Authority, said the slow pace of registrations was expected as developers have to get a lot of information and clearances from architects, engineers and consultants. "It was expected to be slow this month. However, it will pick up in the next two months,'' he added.

Chatterjee said the delay in registrations was due to developers' ‘internal issues.’  It was not due to any technical issue as the website has been functioning well.


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