According to Hardeep Singh Puri, Minister of State (Independent Charge) for Housing and Urban Affairs, RERA aims to increase professionalism & pan India standardization, along with establishing symmetry of information between the promoter & the allottees. He was speaking at the MAHARERA Conciliation Forum in Mumbai. “People have begun to not only appreciate the virtue & importance of RERA but also realize that you cannot have a situation without it,” he said.
He said that RERA aims to ensure that there is accountability towards allottees & their interest will be protected. It ensures fair-play and infuses transparency & reducing frauds. “It also aims to enforce a fast-track dispute resolution mechanism. These points will help us take our Real Estate Industry to newer Heights,” the Minister said.
On this occasion, the Minister of State Housing & Urban Affairs released a Booklet Conciliation A Unique Experiment by MahaRERA prepared by Mumbai Grahak Panchayat (MGP). The Booklet, among other things, highlights the Procedure & Rules of the Conciliation, how to invoke Conciliation process and also some Success Stories.
Maharashtra was the first & the only state in India to commence online registration of new & ongoing Real Estate projects on the mid-night of 30th April/1stMay 2017. Maharashtra is also the only state in India so far to have the maximum number of Real Estate projects (more than 16,000) registered. In last nine months, MahaRERA has disposed off 1168 complaints. Out of 90 Appeals, 45 Appeals have already been disposed of.
MahaRERA Conciliation Forum, an event was jointly organized by NAREDCO, Mumbai Grahak Panchayat, CREDAI MCHI, CREDAI Maharashtra and saw a huge response in the number of speaker and delegates, stakeholders participation who came together to discuss Financial, Legal & Housing issues all lead by prominent personalities from the sector. The event also witnessed discussions like on the case study of the alternate dispute resolution mechanism along with a presentation on Activities and MahaRERA compliance awareness.