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In a decisive move to enhance transparency and homebuyer empowerment, MahaRERA has revamped its project registration certificate to include key project details in a reader-friendly bullet-point format. The new certificate now lists information such as total built-up area, number of buildings and floors, residential and non-residential units, and parking slots. It will also reflect future project updates like timeline extensions or ownership changes. This initiative, applicable to all new housing projects with immediate effect, is expected to significantly aid buyers in making informed decisions.
In a homebuyer-centric reform introduced by the Maharashtra Real Estate Regulatory Authority (MahaRERA), the authority has decided to redesign its real estate project registration certificate to include comprehensive and structured project details in a bullet-point format. This significant change, which came into effect earlier this week, is aimed at increasing transparency and making key information easily accessible to prospective homebuyers. Advertisement
Previously, the MahaRERA certificate only displayed the project's and promoter's name and address in a single line. Now, it features critical information such as the project's total built-up area, names and number of buildings and wings, the number of approved habitable floors, total residential and non-residential units, and the number of four-wheeler, two-wheeler, and visitor parking slots approved. Additionally, the annexure to the certificate includes the Commencement Certificate (CC), which shows construction approvals granted up to specific floors.
MahaRERA clarified that this revamped certificate will be updated if the developer makes any amendments during the project's lifecycle. This includes updates like timeline extensions, project corrections, or changes in ownership through transfer or joint ventures. The revised certificate will reflect these modifications accordingly.
In line with earlier mandates, promoters must display the certificate prominently at the project site and on their respective websites. When a consumer searches for a project on MahaRERA's portal using its registration number, a direct link to this enhanced certificate will be provided on the first page.
To further strengthen buyer awareness, MahaRERA has already made it mandatory for developers to include a QR code in all advertisements across media platforms. This QR code, when scanned, offers instant access to essential project data including the registration number and basic project details.
This move follows a series of measures previously adopted by MahaRERA to legally empower homebuyers. These include the implementation of a Standardised Agreement for Sale, a formalised Allotment Letter, specifications of parking dimensions, and a defined list of amenities with clear delivery timelines. These reforms have not only set benchmarks in Maharashtra but have also been emulated by other real estate regulators across India.
MahaRERA Chairman Shri Manoj Saunik remarked that most people invest their life savings into property, and MahaRERA is committed to protecting these investments. He explained that project registration numbers are now granted only after thorough legal, financial, and technical scrutiny. He also emphasised the importance of homebuyers verifying such legal details before making a purchase decision. According to him, these newly added certificate features further align with the broader objective of ensuring transparency, accountability, and buyer protection.
By offering detailed project information in an accessible format and ensuring continual updates to reflect any project changes, MahaRERA is not just improving transparency but also setting higher standards for regulatory practices across the real estate sector. These initiatives reflect a strategic shift towards a more accountable and buyer-centric real estate ecosystem in India.
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