Maharashtra Real Estate Regulatory Authority (MahaRERA) is planning to soon introduce an act to monitor quality of housing with a view to safeguard interests of homebuyers in order to get houses of good quality as promised by the developers, said Ajoy Mehta, chairman, MahaRERA.
“In Maharashtra, 1.6 crore citizens are waiting for homes and about 14 lakh homes are under construction. Hence, the government recognises the importance of the real estate sector and good housing. While the foundation of regulation will remain the same, more emphasis will be laid on the issue of timely construction, delivery and quality of housing, as well, in order to make good housing available to all. MahaRERA will soon bring an Act to monitor the quality of construction and housing. This enactment will resolve disputes arising from quality issues. More than an impediment, it will ensure seamless delivery of housing,” said Mehta.
The enactment is currently at a discussion stage.
Atul Save, Minister of Housing, Government of Maharashtra said, “The government aims to ensure good housing to every person in the State and in order to achieve this; it will sort out any issues of the real estate sector.”
Sandeep Runwal, president, NAREDCO Maharashtra announced the launch of RealTech Fund (RTF) with an initial corpus of Rs 50 crore to propel technology innovations in the real estate sector and inculcate entrepreneurship.
Niranjan Hiranandani, vice chairman, NAREDCO National said, “With more urban infrastructure projects underway, the state and the city of Mumbai needs housing for all. The State’s real estate sector’s aspiration is to give a home to every person. We need a further slew of pro-housing initiatives like reducing stamp duty and registration charges to boost housing demand.”
Meanwhile, NAREDCO Maharashtra also unveiled two new state chapters of Karad (in Satara district) and Akola.