Everything a First-Time Homeowner Needs to Know About MahaRERA

In India, among all real estate investments, Maharashtra alone has witnessed a 20% increase in the last few years. A prominent reason is its employment opportunities and a vast network of well-established industries. Further, the state has always emerged as a prime ruler in the real estate market for high returns.
However, before investing, every first-time homeowner must know how to remain protected against unfair practices or receive resolutions to complaints.
So, if you are planning to buy a home in Pune, visit the MahaRERA (Real Estate Regulatory Authority) website to check out the guidelines and regulations to ensure your dream property abides by quality standards, construction norms, and timely completion.

The Importance of RERA Regulations for Home Buyers

The key purpose of its enactment was to introduce complete transparency in the real-estate sector and ensure the legal rights of homebuyers under RERA.
Those who are looking to buy a house in Pune, Maharashtra, visit the MahaRERA website to get all the details of a project. Builders are mandated to update project information, and thus are bound to meet project delivery timelines and ensure that their projects meet the quality standards promised.
If a project is delayed, the developer must also pay interest equivalent to the bank loan interest rate on the amount the buyer pays.

Key Points to Check on the RERA Website

According to the regulations laid down under the RERA, and subsequently MahaRERA, developers are required to mention various details on the website, including:
● The delivery dates for various amenities, including recreational facilities, community spaces, fitness and wellness facilities, and so on.
● The details of the carpet area so homeowners can cross-check this with the information specified in the sale agreement with that mentioned on the RERA website.
● Details about open areas and the lifts provided in the buildings, including their total number, specifications, capacities, and speeds, among other details.
The provision of all this information, among other details on the RERA website, ensures that homeowners can ensure that the information submitted to the authorities matches the information in their sale agreement and that they can be held liable for non-provision of amenities or delays in project deliveries. As a result, the benefits of RERA for home buyers are plenty.

Tips on Navigating the RERA Website

While the RERA website offers plenty of information on a project or a builder's reputation, there are several crucial aspects that you can look into on its website. Some of these include:
● Details about the promoter, such as their address, contact information, and so on.
● Project information such as the location, construction type, building design, and so on.
● All the approvals the builder has obtained.
● Details about the project funding, such as the ESCROW account, fund utilisation stages, and so on.
To ensure that you understand all the information on the RERA website, there are guides to help you know the difference between the carpet area and the built-up area, take a close look at the stage-wise payments, and understand the terms of the possession delay compensation.
Sonigara Corp is one of the most well-known builders in Wakad, Pune, and has properties that suit every budget and need. Sonigara Presidency is one of the finest MahaRERA-certified projects in Pune. Reach out today for more information and invest in a home that offers you an oasis of calm and luxury.