'MahaRERA is not a monster...We are here to save the interest of homebuyers,': Chariman Ajoy Mehta

The objective that MahaRERA is pursuing is the transparency and symmetry of information. Whatever project information a builder has, he should transparently share it with the home buyer, said MahaRERA Chairman Ajoy Mehta.

He added that MahaRERA is not a monster and the regulator is working to protect the real estate industry and wants to ensure its growth.

Only when the real estate industry survives does the home buyer gain. He was speaking at an event organized by National Real Estate Development Council (NAREDCO) on RERA Updates & Insights.

Mehta also agreed to hold a quarterly workshop jointly organized by MahaRERA and NAREDCO to help the developers gain clarity and improve compliance.

'Speed up process of approvals'

Speaking on the occasion Dr Niranjan Hiranandani, Vice Chairman, NAREDCO appealed to the regulator to also help speed up the process of approvals.

"There are several issues to be addressed for which the regulator needs to make efforts. For example, if there is a recession in the economy that leads to delays in project completion, how do we handle that risk?" Dr. Hiranandani asked.

Dinesh Doshi, President, of NAREDCO Progressive Neral Karjat said, "Change is the only constant and real estate regulation has evolved over the last many years with the industry working closely with the regulator (RERA)."