Prior to the inception of Maharashtra Real Estate and Regulatory Authority (MahaRERA), there was a practice of developers and builders duping buyers in the name of selling houses. In May 2017, MahaRERA came into force to address complaints of aggrieved homebuyers. The scenario has not changed but the number of cases have gone down, as MahaRERA not only entertains buyers' complaints but gives justice as well. This process generated revenue for the authority.
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In the last 15 months, Maharashtra Real Estate and Regulatory Authority (MahaRERA) has earned a revenue of ₹3.37 crore through complaints. The authority charges the complainants ₹5,000 and ₹1,000 for those who want to settle the conflict through conciliation and arbitration.
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According to MahaRERA records, as on November 2, 2018, nearly 4,711 complaints have been received and of these, 2,912 orders have been passed and the remaining are in the process of hearing.
As per the official data, 18,554 builders or developers have applied for registration, of these, 3,030 projects have been registered under RERA and remaining are in process.
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