Finding the right property to invest your money in is a stressful process by itself, adding other paperwork to it, such as loan approvals, registration, etc., can be frustrating. Several regulations like MahaRERA and GujRERA, have been put in place to ensure that the property being sold is safe and risk-free. Through transparency, these measures make sure that the buyers are protected from coercion of any kind. Let’s take a look at these measures designed to make your buying process less taxing.
Introduction to MahaRERA
MahaRERA stands for Maharashtra Real Estate Regulatory Authority, which ensures that transactions between buyers and developers are just. MahaRERA-registered properties go under thorough inspections to protect the buyers’ rights and make their purchasing process hassle-free. Maharashtra is the first state to establish RERA guidelines for property builders. MahaRERA is designed to oversee the real estate market of the state, making sure that the interests of all parties, especially the buyer are protected. It also gives owners the edge of faster and fair settlement in case of disputes.
Why is MahaRERA important?
MahaRERA has been established to maintain transparency within the transactions during the sale of apartments, buildings and plots, both commercial and residential. Investing in MahaRERA registrations ensures that the buyer has an upper hand during purchase, relieving some of the risks faced by them.
All buyers are suggested to check the MahaRERA registration of the property they are interested in buying. MahaRERA also approves checks and clearances of the properties. Additionally, MahaRERA also aims to supervise real-estate developers, and promoters, maintain records, and improve growth in the Maharashtrian real-estate segment.
How to find the MahaRERA registration for your future investment?
It is mandatory for developers to get the MahaRERA registration for their property, both residential and commercial, if it is greater than 500 square meters, before starting the promotional activities to sell them. They must also make quarterly reports on projects that are under construction.
You can check the details for MahaRERA registration by following steps-
• Open https://maharera.mahaonline.gov.in in your browser.
• Open the ‘Registration’ tab on top and select registered projects.
• Search for the project’s name or the promoter’s name. The project details will appear in the results.
• Select ‘View your screen’ and you will get access to information about the type and details of the project. You can also review the locality and possession date.
You can check the approval of a project by following steps-
• Open https://maharera.mahaonline.gov.in in your browser.
• Open the project page and click on ‘view details.
• Go down to the ‘uploaded documents section’.
There you can view the legal title, commencement certificate, approved layout and plan, draft agreement of the property being sold, and other important details.
Introduction to GujRERA
GujRERA stands for Gujarat Regulation and Development Act, which is designed to control the real estate of the state. Through the enactment of these rules, the government ensures that the developers and buyers are protected. RERA properties are rigorously inspected before approval, making them a safer choice for home buyers. The same applies to commercial properties as well.
Why is GujRERA important?
Numerous buyers are unaware of the importance of checking the RERA registration of the property they are interested in buying before making the call. You can track the registration, specifications, and project-related progress on the RERA website. Reviewing details and validating the registration is the best way to avoid coercion. Investing in a GujRERA-approved property can alleviate the unnecessary stress from your shoulders and allow you to focus on other aspects of your buying process.
How to find the GujRERA registration for your future investment?
It is compulsory for all builders to be transparent with the public. It is only after the RERA registration is completed can a project be promoted for sale. We recommend that you review the list of authorised projects and agents on the GujRERA website, before purchasing any property. It is also better to only trust licence builders to make the buying process as seamless as possible.
You can check GujRERA details of properties by following these steps-
• Open www.gujrera.gujrat.gov.in in your browser.
• Search for developers, projects or agents to check for the RERA details.
• If you know about the project in depth you can use the ‘Advanced Search’ option with the help of address, district, project type and other specifications.
You can check the status of RERA-Registered properties by following these steps-
•Open www.gujrera.gujrat.gov.in in your browser.
• Open the ‘Registration’ tab in home
• Select ‘Projects’ and you will get a chart with information about projects that are already registered.
• Select from residential, commercial, mixed, and planned projects.
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