Digital Transformation for Real Estate.
Our Solutions
The Overview
Introduction
Government of India has enacted the Real Estate (Regulation and Development) Act 2016 and all the sections of the Act shall come into force with effect from May 1, 2017. The key objectives of the Act are:
Ensuring Transparency & Efficiency in the real estate sector in regard to the sale of plot, apartment, building or real estate project.
Protecting the interest of consumers in the real estate sector.
Establishing an adjudicating mechanism for speedy dispute redressal.
Establishing Appellate Tribunal to hear.
SOLUTIONS
Ensuring Disclosures of Real Estate Projects by Promoters.
Real Estate Projects Registration.
Real Estate Agents Registration.
Complaints Redressal.
Provide recommendations to appropriate Government on in matters relating to the development & promotion of real estate sector.
Details of all the Registered Projects shall be available online for citizens including:
Sanctioned plans, layout plans, along with specifications, approved by the competent authority.
Proposed Plan, Proposed Layout Plan of the whole project and Floor Space Index proposed to be consumed in the whole project, as proposed by the promoter.
Proposed Number of building(s) or wing(s) to be constructed and sanctioned number of the building(s) or wing(s).
The stage wise time schedule of completion of the project, including the provisions for civic infrastructure like water, sanitation and electricity.
Quarterly update of the list of number of covered parking, garages booked
Quarterly update of the list of approvals taken and the approvals which are pending subsequent to commencement certificate; quarterly update of the status of the project;
Such other information and documents as may be specified by the regulations made by MahaRERA.
RESULTS
Real Estate (Regulation and Development) Act 2016 is a step towards reforming the real estate sector in India, encouraging greater transparency, citizen centricity, accountability and financial discipline.
