Mumbai, India – In a proactive move to enhance transparency and accountability in the real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued five new orders aimed at safeguarding the interests of real estate agents, landlords, and homebuyers.
These directives come in response to growing concerns about disputes and malpractices within the industry. The orders focus on key areas, including the registration process for real estate agents, compliance requirements for developers, and measures to ensure timely project completion and possession for buyers.
One of the significant orders emphasizes the need for real estate agents to maintain proper documentation and adhere to ethical practices in their dealings. This is expected to enhance trust and reliability among consumers, ensuring a more secure transaction environment.
Additionally, MahaRERA has mandated that developers provide clear timelines for project delivery and maintain communication with homebuyers throughout the construction process. This initiative aims to mitigate delays and foster a more transparent relationship between builders and consumers.
MahaRERA’s Chairman highlighted the authority’s commitment to protecting the rights of all stakeholders in the real estate ecosystem. “These measures are essential for building a robust and trustworthy real estate market in Maharashtra,” he stated.
As the authority continues to enforce these orders, it signals a strong move toward creating a more organized and consumer-friendly real estate environment, reinforcing the importance of accountability in the sector.
