Mumbai: Even though nearly 9,100 realty projects were registered by Monday evening on the website of Real Estate Regulatory Authority (RERA), there are more than 14,000 accounts on the website started by developers to register their projects.
RERA officials said that more than 10,000 projects are expected to be registered. They added that the project registration of rest of the accounts was not completed due to uncertain reasons.
The developers would have to shell out 10 per cent of the entire project cost as a penalty if they failed to register their project before July 31. Surprisingly, Pune has surpassed Mumbai by registering the most number of realty projects. More than 2,730 projects were registered from Pune, whereas, nearly 2,200 projects were registered from Mumbai.
The online window for registration was opened till the midnight of Monday. The RERA website witnessed an influx of registration within few hours, whereas, till a fortnight ago, nearly 1,500 projects were registered. Officials said more than 2,000 projects were registered in less than 12 hours on the last day.
Speaking to the Free Press Journal, a RERA official said, “The project registration is divided into six divisions namely Amravati, Nashik, Aurangabad, Konkan, Nagpur and Pune. While Konkan has the maximum number of realty projects registered (more than 4, 600), Amravati had the least number of registrations. Till 8pm, there were zero registrations from several talukas.” The official added that the final approval to the project would be given after all evaluations.
The authorities have also provided a new window for citizens to register their complaints against developers regarding any forgery or irregularities in the project. The complainant will have to pay a minimum of Rs 5,000 for registering their complaints on their website.
Rights to consumers
The much-awaited Real Estate Regulatory Act (RERA), which rolled out on May 1 this year, is expected to protect the rights of consumer and to bring in transparency in the real estate sector. The Act allows homebuyers to get every detail of their amenities and services promised by the builder. If a developer fails to register his project within the given deadline, a penalty of 10 percent of the entire project cost will be levied. Citizens can register their complaints in the complaint window on the MahaRERA website by paying a minimum amount of Rs 5,000.