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In the seven years since the implementation of the Real Estate (Regulation and Development) Act (RERA), the Maharashtra Real Estate Regulatory Authority (MahaRERA) has successfully resolved 15,423 consumer complaints, solidifying its position among the top three states proficient in addressing homebuyers' grievances, according to a recent report from the Ministry of Housing and Urban Affairs (MoHUA).
The nationwide analysis disclosed that real estate authorities across states and Union Territories collectively resolved an impressive 1.16 lakh consumer complaints in the seven-year period ending in November of the current year. The report specified that the real estate authority in Uttar Pradesh led the charts by resolving 38%, or 44,602, of the complaints it received. Haryana closely followed with 20,604 resolved complaints, and Maharashtra secured the third spot with 15,423 complaints addressed. Remarkably, the top three states collectively accounted for nearly 69% of the total complaints disposed of under RERA nationwide.
The report, based on data from the Centre, revealed that 32 states and Union Territories currently have operational real estate regulatory authorities. However, Ladakh, Meghalaya, Nagaland, and Sikkim are yet to establish such authorities to handle homebuyers' complaints.
The data also showed that a total of 1.16 lakh projects have been registered with real estate regulatory authorities across the country so far. Maharashtra claimed the highest share of registered projects under RERA at 36%, followed by Tamil Nadu (16%), Telangana (11%), and Gujarat (7%).
Furthermore, the report highlighted a steady increase in project and real estate agent registrations under RERA. Nationally, 1.16 lakh projects and 82,755 real estate brokers have been registered under RERA till November 28, 2023, marking a 63% and 47% growth, respectively, over the previous two years.
Apart from this, the MahaRERA's Conciliation Forum, established in March 2018, has successfully settled almost 30% of the disputes it received in the past three years. Out of the 4,885 complaints received since 2021, the 52 benches of the Conciliation Forum in the state have amicably resolved 1,343 disputes between homebuyers and developers. A MahaRERA official revealed that approximately 876 cases are currently in the hearing process before the benches across the state.
As an integral part of the regulatory authority, the Conciliation Forum enables parties in dispute to appear before expert conciliators and resolve problems, fostering better understanding despite filing cases in MahaRERA. The forum comprises representatives from CREDAI-Pune Metro, Mumbai Grahak Panchayat, a prominent consumer body, and other promoters' associations.
In conclusion, MahaRERA's exemplary performance in resolving consumer complaints over the past seven years reflects its commitment to transparency and accountability in the real estate sector. The surge in project and agent registrations under RERA nationwide indicates the growing impact of regulatory measures.
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