The number of registered construction projects under
Real Estate (Regulation & Development) Act (Rera) continues to languish in single digits in several districts of the state, like Hingoli (2), Beed (3) and
Latur (9) showing registration figure in single digit.
Things look better in Aurangabad, where the number of registrations has increased from zero to 337 by the end of 2017.
Rera, which was passed by Parliament in 2016 and subsequently ratified by
Maharashtra government, aims to safeguard the interests of buyers as one of the objectives and also has a provision to impose penalties on errant promoters. While Rera came into effect from May 1, developers in Maharashtra were provided with a 90-day window for registration from May 1. Many ongoing and fresh projects witnessed necessary registration post stipulated deadline.
As per the rules, real estate developers have been prohibited from advertising and marketing their ongoing projects if no Rera registration is done.
However, in the initial days, Rera had drawn a blank, especially in Aurangabad and other regions. Civic activist
Vijay Kumbhar said the implementation of a key legislation like Rera should not limit to metro cities only. "Such a poor response for the legislation from non-metros makes a strong case for organised efforts for awareness and effective implementation of the Act," he said.
As per Rera, promoters failing to register are liable to a penalty which may extend up to 10 % of the project cost. On continued violation, the builder shall be punishable with jail up to three years or further fine of 10% of the cost, or both.
Representative Image
