Ever since Real Estate Regulatory Authority (RERA) was implemented in Maharashtra on May 1 last year, it evoked a mixed response from citizens even though the builder lobby is unhappy with it. Termed as a revolutionary enactment, the legislation aims to protect buyers interests, particularly in the backdrop of high profile cases like of real estate giants Jaypee and Amrapalli groups, where Supreme Court had to come forward to rescue thousands of aggrieved flat owners who were allegedly duped by them. Analysts believe if RERA would have been implemented since it was conceptualized, harried investors would have been saved from such hassles.
Nonetheless, Maharashtra is on the forefront in number of registration by the builders. For MahaRERA’s Nagpur division, the government has appointed Girish Joshi as deputy secretary and office head from June last year. He was roped in on the basis on his vast experience of working as a deputy collector in city. He was responsible for conceptualizing and implementing 7X12 extracts ATMs across tehsil office where one can get entire information about his land, at a click.
In a tête-à-tête with TOI, he explains how the MahaRERA could help the flat/plot owners from getting defrauded, how their precious money is safe and how builders could be sent behind bars, if they failed to deliver what they promised. Excerpts from an interview...
Q. What is RERA is all about?
A. The revolutionary enactment made it mandatory for all commercial and residential real estate projects to register with the MahaRERA authority on website. However, it would only be applicable to those over 500 sq metres of land or at least having eight flats in the apartment. It was introduced with the sole aim of protecting buyers’ interests and bringing total transparency in project marking and its implementation. Everything would be available on the MahaRERA website, right from the project details to its progress to its completion date. If the builder failed to finish it off before the deadline, he could be penalized and even could be sent to jail for three years. Significantly, it has organized the entire real estate sector which was highly unorganized for all these years and was subsequently neglected.
Q. How is it beneficial for flat/plot buyers?
A. In many ways than one. Since all the builders have to upload entire information on our website, the buyers could get it at their finger tips. Even completion date is mentioned there. Any single deviation in specification could invite trouble for the builder. Right from clearing the title to sanctioning of the maps, everything is closely scrutinized by the MahaRERA authorities and occupancy certificate (OC) is made must for all buildings. The builders also need to upload audit report about their projects on the website and maintain a common account of money paid by the buyers. The amount could be withdrawn only through signatures of certified engineer, architect and a chartered accountant, whose registrations are to be made with MahaRERA. Moreover, there would be defect liability of five years on the builders, which means they would be held responsible if cracks developed in the new construction due to the use of inferior quality material or other defects. Importantly, it ended the syndicate of huge black money involved in dealings. Earlier, the builders used to demand 50% amount in black to avoid taxes, but now, they can’t do it. It’s precisely the reason, the real estate prices, which were highly inflated, have dropped drastically or I would term it as correction. For any future transaction, the buyers must refer to MahaRERA website and check details about credibility of all projects.
Q. How can buyers lodge complaint against builders?
A. Basically, there are three ways to register their complaints. The first is by filling up of Form A for complaining to the MahaRERA authority. Second, through filling up of Form B by the way of application to the adjudicating officer and third, through Form C by making an appeal to the appellate tribunal in Mumbai, where recently retired high court judge Indu Jain would be joining shortly. Unlike other courts, these semi-judicial bodies have to decide the cases within a deadline of three months from the date of registration. If this Act was in existence about two decades back, the problems like 572 and 114 unauthorized layouts in the city would have never take place. The MahaRERA certificate is just like an ISI mark of Hallmark, which guaranteed the product quality for the customers.
Q. How many complaints have been received so far and has anyone been punished?
A. In about a year, since it was implemented, about 3,717 complaints were received by the authority across Maharashtra and of them, 2,164 were disposed in quick time. Many builders were punished and prominent among them is Piramal Realty which was slapped with Rs50 lakh fine. Like arbitration, even conciliation facility was made available to the both builders and buyers who want to negotiate rather than fighting a legal battle. A judges body comprising a member from Grahak Manch and builders representative from organizations Credai try to settle the dispute between two parties. In a year, they manage to resolve 93 cases out of 349, who applied for this forum. We’ve also recovered Rs52 lakh from the builders, who failed to complete registrations on with MahaRERA website before the last date. Unfortunately, many flat/plot owners don’t come forward to lodge complaints, apprehending backlash from the builders and also under misconception of fighting a lengthy legal battle.
HOW TO CONTACT RERA
Customers in city can refer MahaRERA website — https://maharera.mahaonline.gov.in/ or contact on — 2558300. The MahaRERA is located at First floor, Administrative Block No 1, near Udyog Bhavan, Civil Lines, Nagpur
