Defaulting Realtors on MahaRERA Website
The Maharashtra Real Estate Regulatory Authority (MahaRERA) will shortly publish the names of delinquent realtors on their website. This smart move by regulating body would be effective for home buyers, as it would provide them with a history of the defaults committed by the developers.
Violations committed by developers under the RERA Actwould be noted in the list. The provision to RERA Act demands this breach be made public.
A senior member of MahaRERA said that till time, the website contained information of project permissions and other area specifications. Nonetheless, the apex real estate authority is planning to report names of defaulting realtors on the website. He further mentioned that in several cases developers have uploaded false details, delayed possession or hidden litigation details. The names of all such offenders would be disclosed.
A recent initiative by MahaRERA was including Geographical Information System (GIS) website, where all the ongoing projects will be mapped. This inclusion will let home buyers know the nearest amenity near the residential project.