NEWLY established Real Estate Regulatory Authority (RERA) will go a long way in protecting house buyers and will bring about accountability and transparency in the real estate sector, according to Gautam Chatterjee, chairman, MahaRERA. Chatterjee said those violating norms and promises made to buyers will not be spared and MahaRERA will keep a hawk’s eye on all operations. He also urged prospective house buyers not to invest in projects by builders who have not registered with MahaRERA.
The MahaRERA chief was in Pune to participate in a day-long workshop for developers to guide them about the functioning of the Authority. The workshop was organised by the Pune Metropolitan Region Development Authority (PMRDA) at the Bhimsen Joshi Kalamandir in Aundh. The event was inaugurated by District Guardian Minister Girish Bapat.
Chatterjee also urged builders to come ahead and register with the regulatory body. Of about 400 major builders and almost 1,500 minor ones, only two have so far registered with RERA since it was set up on May 1. He said the deadline given for registration of builders and real estate agents — July 31 — will not be extended.
“I urge them to register with us. And I also urge the buyers… they should not undertake any transactions with developers who are not registered with RERA,” said Chatterjee. Saying the Authority will help buyers in multiple ways, Chatterjee added, “They will have more information about the project and about the developer. If the builders don’t deliver what they had promised at the time of the launch, they can’t get away with it. I will personally see that no one gets away with it,” said Chatterjee.
He said RERA will also help the builders, as “all the permissions and no-objections that the builders have to collect are to be issued by the concerned authority within time. If the authorities take too long to do so, then the builders can knock at our doors… the builders will get this opportunity if the officials don’t follow the deadline. Transparency will happen on both sides,” said Chatterjee.