The Maharashtra Real Estate Regulatory Authority (MahaRERA) established to protect interest of homebuyers and develop trust among buyer and seller, has so far disposed of 65 per cent complaints it obtained from various stakeholders successfully.
Interestingly, majority of these complaints obtained are about delay in handing over the possession of booked flats. In many of these cases, developers have been asked to pay compensation to the aggrieved homebuyers. However there are also cases where builders/developer contend that the project got delayed due to change in policy, obtaining clearance and permissions from concerned authorities or due to lack of raw material availability affecting project work. Therefore, developers are of the viewpoint that it is necessary to make all these agencies accountable under RERA.
Dr Niranjan Hiranandan, National President NAREDCO said, "Under RERA, effectively, the buck stops at the real estate developers' table. Industry bodies like NAREDCO have raised this issue before authorities. Delays caused by clearance and permissions taking longer are caused by concerned bureaucrats, but under RERA, the responsibility lies with the developer - he still has to complete the project and hand over possession by the scheduled date. This is a practical problem. Similar is the issue when basic raw materials like Cement or Metal witness cartelization by manufacturers, and delays occur - again, under RERA, the developer is supposed to hand over possession in time. Policy changes during a project's tenure also impacts timely completion."
He added, "Given these aspects, it would be fair and just to have such persona whose acts of omission and commission result in project delays to be also held accountable, and their role in delays in possession be made public by RERA. That would be the ideal scenario."
Similarly, Aditya Kedia, Managing Director - Transcon Developers stated "MahaRERA sets the underpinning for fast-tracking of project deliveries, but its success will depend on taking adequate measures like incorporating the Governing bodies like BMC, Central agencies, District offices under its ambit. Doing this will facilitate in streamlining the process of the real estate alongside will make government officials more accountable. This, in turn, will protect the interests of home buyers thus boosting real estate investments."
According to the data with the MahaRERA as on May 3, it received 14, 241 complaints, out of which, in over 9,000 cases orders have been passed and in remaining cases hearing is going on. In fact, RERA which has been set up to provide quick justice to real estate stakeholders including homebuyers as per provision need to dispose of the complaints within 60 days’ time limit. On bringing governing agencies under RERA's ambit Anand Gupta, chairperson, Housing and RERA committee of Builders Association of India (BAI) said, by doing so builders and developers will get a great relief and confidence. The image of builders will also improve as buyers will understand the actual complications and factors causing delay in project completion work.