Buying A Home In Mumbai? Check These Details By MahaRERA Before Locking The Deal

Buying a home is not an easy task for homebuyers. Why? A property purchase is more than just a transaction of buying an item, it has far-reaching depths to look into, from materials to legal accountability. When you are in the market for a new home in Maharashtra, there’s one name you are bound to hear: MahaRERA (short for Maharashtra Real Estate Regulatory Authority).

This authority has become a guide for homebuyers, especially at a time when real estate scams and shady practices are making headlines. To counter such incidents, MahaRERA recently issued a set of guidelines for buyers, urging them to double-check a project’s registration status on the regulator’s official website before committing to a purchase.

It has put a primary focus on due diligence to protect homebuyers from falling into any potential real estate scam.

What has the authority said?

In a guideline on its official website, MahaRERA has asked buyers to avoid common pitfalls by confirming whether developers have all the necessary approvals, such as building permits and environmental clearances, from the relevant authorities.

This advice couldn’t have come at a better time. Complaints have been piling up against developers who register flats on upper floors without securing a valid Commencement Certificate (CC). According to a Financial Express report, in some cases, builders have even refused to sign a sale agreement after receiving more than 10 per cent of the total property cost from buyers.

Therefore, MahaRERA is focusing on creating more awareness among the homebuyers. The regulator has advised buyers to;

• Carefully review project timelines, amenities promised by the developer, and any disclosures provided

• Understanding the terms of the sale agreement

• The authority further insists that any doubts should be resolved before signing anything.

MahaRERA Chairman Manoj Saunik explained the regulator’s approach in detail: “We’ve always aimed to provide a legally and financially protected home-buying experience for buyers. However, challenges can arise during a project’s execution. To address this, we conduct rigorous legal, technical, and financial scrutiny of each housing project before issuing a registration number.”

According to Saunik, the scrutiny process is thorough. It includes;

• Verifying the ownership of the plot

• Checking for disputes

• Ensuring the real estate agents are registered, and

• Confirming that the commencement certificate mentions the total number of floors allowed

Here’s a snapshot of what buyers should check and keep in mind;

• Verify if the builder has got their construction plan approved by the local planning authority

• Make sure to check your builder has obtained the Commencement Certificate (CC) for the project

• Does your builder have a title clearance report for the land? Check this also.

• It’s smart due diligence to check if there are any ongoing litigations related to the project

• As a homebuyer, don’t forget to look for disclosures about any ‘encumbrances’ meaning a mortgage or other claim on property or assets that you are about to purchase.

For homebuyers, these steps might seem like extra effort, but they can save you from heartbreak, and financial loss, in the long run. Such guidelines are more than just rules; they’re a roadmap for a secure and informed home-buying experience.

Follow Outlook Money's Complete Coverage of Union Budget 2025 Here.