MahaRERA implements three-tier scrutiny process for home buyers

In a bid to eliminate future complaints from home buyers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has implemented a three-tier scrutiny process for registering housing projects. Each project application will undergo rigorous evaluation in legal, financial, and technical aspects by independent teams, as outlined in an official statement released by MahaRERA on Tuesday.

These enhanced scrutiny measures aim to ensure timely project completion without obstacles, striving toward a zero-complaint goal from homebuyers. Projects failing to meet MahaRERA’s criteria will not receive registration numbers.

Ajoy Mehta, MahaRERA chairman, emphasised that adherence to legal, financial, and technical parameters is crucial for obtaining a MahaRERA registration number. The three-tier system ensures comprehensive verification to prevent project stress, empowering the homebuyers.

Simultaneously, MahaRERA conducted a workshop to aid developers in addressing their queries and uncertainties, further supporting transparency and compliance within the real estate sector.