MahaRERA Is Tracking Investment Worth Rs 8 Lac Crore
MahaRERA is tracking Rs 8 lakh crore of investment through online. The Annual report of the year 2020 released by MahaRERA has revealed some interesting facts.
By Varun Singh
MahaRERA (Maharashtra Real Estate Regulatory Authority) is currently tracking investments worth Rs 8 lakh crore online.
The annual report for the year 2020 was released online by MahaRERA in January.
This report has some interesting facts including the fact that Rs 8 lakh crore investment is being tracked by MahaRERA.
The report also shows that 25 lakh homes accommodating 1.2 crore citizens of Maharashtra are registered and being monitored through MahaRERA IT Solution.
25,347 real estate projects are registered with the authority and nearly 5,467 projects are completed.
23,755 real estate agents are registered and being monitored by MahaRERA.
The annual report further states that about 40 lakh professionals and labour job roles being defined by MahaRERA including labour, architects, engineers and Chartered Accountants.
The report also includes a statement of Periodical Survey conducted by the
Authority to monitor the compliance of the provisions of the Act by the promoters, allottees and real estate agents.
In order to ensure compliance of the provisions of the Act, the authority on monthly basis undertakesthe following survey and activities:
- Every 1st and 15th Day of the Month, list of all the promoters who have not updated their projects in the past three months is extracted and reminder mail is sent to them for compliance
- Every 5th Day of the Month, list of all projects whose validity is about to be completed in next three months is extracted and reminder mail is sent to them to upload Form 4 or apply for extension
- Every 10th Day of the month, All promoters are sent a mail listing Guidelines on Advertisements of Projects
- Every 20th Day of the month, List of all projects where booking is more than 51% is extracted and reminder mail is sent for society formation, if applicable
- Every 25th Day of the month, All promoters are sent a mail listing Guidelines on Agreement for Sale
Apart from this, monthly meeting with Self-Regulatory Organization (SROs) is held for review of compliance of provisions of act by promoters and to plan next steps for enhanced compliance.
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