Mumbai: As Maharashtra’s real estate regulator MahaRERA approaches nine years of implementation on May 1, industry stakeholders say the authority has significantly improved transparency and accountability in the sector, while highlighting persistent challenges around project approvals.
Introduced under the Real Estate (Regulation and Development) Act, 2016, the regulator has helped bring structure and discipline to the state’s real estate market, according to developers’ body NAREDCO Maharashtra.
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Kamlesh Thakur, President of NAREDCO Maharashtra, said the authority has played a “transformative role” over the past nine years by enhancing transparency, improving grievance redressal, and boosting homebuyer confidence. He noted that MahaRERA has streamlined project registrations and disclosures, creating a more credible ecosystem that benefits both consumers and compliant developers.
At the same time, Thakur flagged delays caused by multiple planning authorities as a major hurdle. He said the regulator could take on a more enabling role by safeguarding developers from such external delays to ensure realistic project timelines. He also called for faster approvals, deeper digitisation, and stronger coordination between regulatory bodies and industry stakeholders.
Echoing similar views, Ram Raheja, Managing Director of S. Raheja, said the regulatory framework has introduced accountability, organisation, and financial discipline, helping credible developers benefit from improved consumer trust. However, he pointed out that the approvals process remains a critical bottleneck, with multiple departments and sequential clearances making it difficult to adhere to timelines.
Rohan Khatau, Director at CCI Projects Pvt Ltd, said RERA has shifted the sector from “promises to processes” by enforcing stricter timelines, clearer disclosures, and better execution discipline. In Mumbai, he said, it has influenced how township projects are planned, particularly in terms of phasing, cash flow management, and delivery commitments. “The next step is to match this accountability with faster, more coordinated approvals, so execution can keep pace with intent,” he added.
While March 2016 marked the announcement of RERA, its implementation in Maharashtra completes nine years on May 1, 2026, creating what industry observers describe as a dual milestone.
According to data available on MahaRERA’s website as of April 30, 2026, the authority has registered 54,215 projects and 55,714 agents. A total of 35,089 complaints have been filed so far, of which 28,970 have been resolved.
However, the regulatory framework has also come under scrutiny. Earlier this year, the Supreme Court of India sharply criticised Real Estate Regulatory Authorities, including MahaRERA, suggesting that they often end up protecting defaulting builders rather than homebuyers. In February 2026, the court remarked, “Better abolish this institution, we don't mind that,” while raising concerns over the functioning of such authorities.
Despite the criticism, developers maintain that the regulator has been instrumental in restoring trust and driving greater discipline in the sector, even as calls grow for reforms to address approval-related delays and improve coordination across agencies.
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