News Room

Mumbai, 20th August 2024: To ensure that homebuyers receive improved quality residences and do not have to chase the developer to get the defects repaired, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for the developer to present a ‘Quality Assurance Certificate’ to MahaRERA at the end of every financial year and publish it on their respective websites. This certificate will be based on various factors that determine the quality of the project, including the project’s structural design, stability, various tests, the types of materials used, and the skill level of the workforce involved, fire safety and fire resistance measures, etc. For this purpose, MahaRERA has amended the MahaRERA General Regulations, 2017, and introduced the MahaRERA General (Amendment) Regulations, 2024. The latest amendment was published in the Government Gazette. This is applicable to all developers in Maharashtra with immediate effect. On submission of details by the project’s engineers and supervisors, the developer is expected to verify the details before making the ‘Quality Assurance Certificate’ public. This move is expected to increase developer’s accountability and ensure that homebuyers receive better-constructed homes. As per the provisions with regard to the defect liability period, a developer is obliged to rectify any deficiency in the residences for a period of five years from the date of possession. Every complaint has to be attended to within 30 days without any cost to the homebuyer. While this provision protects consumer interests, MahaRERA is of the firm view that a situation should ideally never arise. Therefore, to establish standardised procedures and construction quality, MahaRERA issued a consultation paper on the same in December. Based on the response received, a draft circular with detailed provisions was published on April 24 this year. Thereafter, the draft was open for suggestions and feedback until May 23. After reviewing the responses, various experts were consulted from the real estate and relevant sectors to finalise the framework for ‘Quality Assurance Certificate’, which is mandatory and binding on all developers. MahaRera New Format of Form 2A Henceforth, every developer will have to ensure quality control at each of the project’s stages, as this will improve a structure’s overall condition. While every developer claims that their project is best on all aspects, so far, a standard framework or parameters has been missing. Hereon, developers will be required to provide such assurance to their purchasers through MahaRERA on an annual basis. Some of the key aspects for certification includes – Was soil testing conducted prior to finalising structural design and stability of the ground where the project will be constructed? Was a structural engineer appointed for the project? Is a record maintained at the project site to allow periodic certification by the project’s engineer for quality control of works? Is there a testing facility available on-site to check raw material’s quality? In case of a multi-story building, is an earthquake-resistant system in place? Is there a requirement for flood prevention measures?, among others. Additionally, it must be ensured that the materials utilised such as concrete, cement, steel, iron, electrical cables, plumbing, fixtures, etc. conform to the standards as set by Bureau of Indian Standards/ Indian Standard/ National Building Code. Also the water to be utilised should be tested to ensure it is suitable for construction purposes. A record of these should be maintained at the project site. There should also be due diligence and records documented for critical works such as electrical, water supply, drainage, etc. carried out under the supervision of registered contractors and supervisors. The documents should also state that adequate safety measures were taken to prevent any leakages and dampness of the walls. In case if there is involvement of independent third parties towards project’s quality checks during and post construction phases, details of the same should also be documented and certified. After certifying all of these aspects by the project’s engineers and supervisors, the onus is on the developer to verify the information provided and give his stamp of approval to the ‘Quality Assurance Certificate’. This will significantly enhance the developer’s responsibility and the project’s construction quality. MahaRERA Chairman Ajoy Mehta said, “Today, the emphasis on quality is maintained across all sectors. The housing sector is no exception. Nevertheless, quality in this sector remains a topic of ongoing discussion and concern. MahaRERA’s effort is to raise the construction benchmark to make the provisions of the defect liability period become irrelevant. Since December, MahaRERA has been working to establish preliminary parameters to ensure that constructions are of better quality. A consultation paper was also issued in December. Considering the ambit and importance of the subject, a draft circular discussing all aspects of the matter was issued in April last week for opinions and suggestions. Now, the proposal has been given a final shape. In terms of construction quality, the ‘Quality Assurance Certificate’ is based on detailed criteria regarding important factors such as the overall construction process, structural concepts, stability, various tests, the materials used in the project, and the skill level of the workforce involved in the project. The developer has to self-certify and make it available on their website. Since the details will be publicly available and involve the builder’s credibility, they will adopt best construction practices. MahaRERA is of the view that this will enhance developers’ accountability and homebuyers will eventually benefit in getting better quality residences.”

Mumbai, 7th August 2024: The Maharashtra Real Estate Regulatory Authority’s (MahaRERA’s) Maha-Complaint and Regulatory Integrated Technology Implementation or Maha-CRITI is in final stages of going live. The revamped portal has several improved and useful features such as enhanced user experience, data analytics, personalised dashboards, etc. to meet the current and future requirements. There are various tasks carried out on MahaRERA’s website such as registration, renewal and rectification of projects, registration and renewal of agents and complaints from homebuyers. During the transition process, MahaRERA’s website will be down for promoters and agents from the midnight of 13th August to midnight of 31st August. The improved website will go live and be fully operational on 31st August’s midnight. While migrating to the new system, homebuyers will have to make applications manually between the midnight of 20th August to 31st August. Online hearings of complaints will continue uninterrupted. However, promoters and agents will have to ensure they do the due diligence by August 13, as the website will be in the midst of migration between the midnight (11.59 pm) of August 13 and the midnight (11.59 pm) of August 31. Only the completed applications submitted until August 13 will be processed by MahaRERA officials. These interruptions will be caused due to MahaRERA’s MahaCRITI website going live on August 31st midnight. The system will undergo various technical transitions while migrating from the old website to the new website. The new website will enhance the user interface with an integrated system and much more to meet the current and future requirements. MahaRERA urges all the stakeholders to cooperate during this transition period. The existing system is over 7 years old, necessitating a comprehensive overhaul to enhance user-friendliness for all the stakeholders, improve functionalities for all users and introduce data analytics as well as dashboards. These will ensure speed, efficiency and convenience. From August 31, all the regulatory and complaint management functionalities will be done on the next generation integrated enterprise-wide comprehensive IT solution. This system incorporates business intelligence and data analytics for all its regulatory and complaint management functions. The objective of MahaCRITI is to enhance the user experience, provide a truly integrated system with a single source of truth, ensuring that data captured at one point is consistently used across the platform. This solution provides personalised dashboards for all users such as homebuyers, promoters and agents, there also is system-driven reminders, notifications, compliance reports, quarterly progress reports, complaint management, etc. Additionally, the never before features of mobile application and AI driven chatbots for real-time assistance will also be introduced making MahaCRITI a comprehensive and effective platform for all the stakeholders. MahaRERA Chairman Ajoy Mehta said, “Any public sector organisation’s website should provide unambiguous and reliable information in the least amount of the time possible to those who get in touch with the organisation. The platform should be interactive ensuring these elements and this also is the need of the hour. As the interactions on MahaRERA’s website is increasing day-by-day, there is a requirement to enhance the portal’s functionalities. A few months ago, about 5,000 people visited MahaRERA’s website daily, which translates into just over 200 site visits every hour. This has increased manifolds to over 34,000 daily visitors and over 1,400 per hour visits. This number continues to be on the rise. Considering this increasing digital traffic, MahaRERA’s decided to update and make the website more technically sound as user-friendly to be able to meet the rise in demands. From this perspective, this new website has been designed after a series of meetings and tests in the last one year. The new website will immensely help all the stakeholders. The new system will make it easy for homebuyers to register complaints and access the necessary information about projects including project’s current status to decide if they should enter into the transaction or not. Additionally, the artificial intelligence backed chatbot and mobile application will only increase traffic on MahaRERA’s website. The new website will also have modules to make it convenient for developers and agents to interact with MahaRERA. Apart from increasing their efficiency, this new website will further help in increasing transparency and accountability in the real estate sector. The new website will be available to everyone from the midnight of August 31.”  

  Mumbai, 5th August 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has released the results for the 5th edition of its Real Estate Agents examination. Out of 4,769 candidates who took the test, 4,165 have passed, achieving a pass rate of 87%. In comparison, the pass percentages for previous examinations were 96% for the 1st edition, 93% for the 2nd, 89% for the 3rd, and 86% for the 4th. Among the successful candidates in the latest examination, there are 3,553 males and 612 females. Notably, 196 of the passed candidates are senior citizens, with 12 of these being women. Sharad Mota from Mumbai and Divyesh Maheshwari from Pune both achieved perfect scores, sharing the top rank in this examination. Since the inception of the exams, a total of 13,370 candidates have qualified as real estate agents across five editions. This includes the 4,165 from the latest exam, 405 from the first edition, 2,812 from the second, 4,461 from the third, and 1,527 from the fourth. As part of its ongoing efforts to professionalize the sector, MahaRERA has mandated training and certification for both new agents and those seeking renewals. As of January 10, 2023, MahaRERA’s order requires all agents to undergo this training. Currently, there are approximately 47,000 registered agents with MahaRERA. Of these, 13,785 had their registrations canceled due to non-renewal. Additionally, by the end of April, MahaRERA suspended the registrations of over 20,000 agents who did not meet the mandatory training and certification requirements by December 31. These agents are now barred from conducting transactions until they fulfill the necessary conditions. Real estate agents play a critical role in connecting homebuyers with developers, often serving as the initial point of contact and providing essential information about projects. Given their pivotal role, it is crucial for agents to be knowledgeable about the RERA Act and provide accurate, clear, and reliable information regarding developers, projects, sale agreements, allotment letters, carpet area, and defect liability periods. MahaRERA’s training and certification requirements are designed to ensure that agents are well-equipped to serve the interests of homebuyers effectively.  

  Mumbai, June 8, 2024 – Renowned actress Tripti Dimri, acclaimed for her role in the film “Animal,” has made headlines with the purchase of a prestigious ground-plus-two-storey bungalow off Carter Road in the Bandra West district of Mumbai. The property acquisition, valued at ₹14 crore, was registered on June 3, 2024, as revealed by property registration data obtained from IndexTap.com.   The bungalow, featuring a total area of 2,226 square feet of land and 2,194 square feet of built-up space, marks a significant investment for Dimri. The transaction included a stamp duty payment of ₹70 lakh and registration fees of ₹30,000. The property’s previous owners, Cedric Peter Fernandes and Margaret Annie Marie Fernandes, facilitated the sale.

  Bollywood actor Shahid Kapoor and his wife Mira have bought a luxury sea-view apartment in Mumbai’s prestigious Oberoi 360 West project in Worli. The apartment, measuring 5,395 square feet, was purchased for ₹58.66 crore and registered on May 24, 2024. This is their second property in the high-rise developed by Oberoi Realty. The apartment includes three parking spaces and offers stunning views. It was acquired from Chandak Realtors Pvt Ltd, who bought it in a bulk deal in 2023. The Kapoors’ purchase highlights the strong demand for high-end residences in Mumbai.

Bollywood actor Shahid Kapoor and his wife Mira have bought a luxury sea-view apartment in Mumbai’s prestigious Oberoi 360 West project in Worli. The apartment, measuring 5,395 square feet, was purchased for ₹58.66 crore and registered on May 24, 2024. This is their second property in the high-rise developed by Oberoi Realty. The apartment includes three parking spaces and offers stunning views. It was acquired from Chandak Realtors Pvt Ltd, who bought it in a bulk deal in 2023. The Kapoors’ purchase highlights the strong demand for high-end residences in Mumbai.

Mumbai, 31st July 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a significant step towards enhancing transparency and accountability in the real estate sector by mandating that developers specify deadlines for the delivery of facilities and amenities in housing projects. This directive, announced today, aims to address long-standing concerns about the availability of promised amenities and ensure that homebuyers receive what they were promised. According to the new regulation, developers must include a detailed schedule of facilities and amenities in Annexure-I of the Agreement for Sale. This annexure, part of the official sales document registered with the government, will now outline the delivery dates for various amenities such as swimming pools, tennis courts, gymnasiums, clubhouses, and more. The directive is designed to prevent developers from delaying or neglecting the promised features of a project. “In the past, developers often advertised attractive amenities but failed to deliver them in a timely manner,” said Ajoy Mehta, Chairman of MahaRERA. “Our new regulation requires developers to specify when these facilities will be available. This change will provide homebuyers with clarity and ensure that developers are held accountable for their commitments.” The new rule also addresses projects that are developed in multiple phases. Developers are now required to provide phase-wise timelines for the completion of amenities, ensuring that residents of earlier phases are informed about the availability of facilities. This provision is intended to prevent frustration among residents who might otherwise be left waiting for promised amenities until the final phase of construction. Furthermore, any major changes to the location or number of facilities will require approval from MahaRERA. If the changes affect the amenities significantly, developers must obtain consent from two-thirds of the affected residents. This measure is designed to prevent unilateral alterations that could impact the quality of life for residents. The new regulations will be applicable to all registered housing projects with immediate effect. Existing Agreements for Sale will remain in force as per their original terms, but the new provisions will apply to all future transactions. MahaRERA has also introduced a model format for Annexure-I to assist developers in complying with the new requirements. Previously, the Agreement for Sale focused primarily on the cost of the apartment, payment plans, and penalties for defaults. It did not include specific details about the timing of amenities, often leading to discrepancies between what was promised and what was delivered. “This measure will eliminate the uncertainty surrounding the availability of amenities,” Mehta added. “Just as developers are obligated to deliver apartments on time, they will now be required to meet deadlines for amenities. This will enhance transparency and protect the interests of homebuyers.”

Mumbai, July 25, 2024 – Renowned actor-director R Madhavan has made a significant investment in Mumbai’s real estate market by purchasing a luxurious residential property in the prestigious Bandra Kurla Complex (BKC). The apartment, valued at Rs 17.5 crore, reflects Madhavan’s continued success and growing portfolio. The property, located in the upscale Signia Pearl complex, spans approximately 389 square meters (4,182 square feet) and includes two dedicated parking spaces. The high-rise residence is situated in a prime corporate neighborhood and offers high-end amenities for an exclusive lifestyle. The sale deed for the apartment was finalized on July 22, 2024. The purchase incurred a stamp duty of Rs 1.05 crore and a registration fee of Rs 30,000. The apartment is ready for immediate occupancy, providing Madhavan with a new Mumbai address in one of the city’s most sought-after locales. Madhavan, who is currently enjoying the success of his film Shaitaan with Ajay Devgn, continues to expand his horizons in the entertainment industry. Following his acclaimed directorial debut with Rocketry: The Nambi Effect, he is set to appear in S. Sashikanth’s debut film Test, a sports drama also featuring Nayanthara and Siddharth. Additionally, Madhavan has several other projects lined up, including Mithran R. Jawahar’s family drama, biopics of Gopalswamy Doraiswamy Naidu, Chempakaraman Pillai, C. Sankaran Nair, and Swati Singha’s science-fiction film G. About R Madhavan: R Madhavan is a celebrated Indian actor and director known for his versatile roles in both Bollywood and Tamil cinema. He has received several accolades for his performances and continues to be a prominent figure in the film industry.

Mumbai, July 18, 2024 — Indian cricketer KL Rahul and his wife Athiya Shetty, daughter of Bollywood star Suniel Shetty, have acquired a luxurious apartment in the upscale Pali Hill area of Bandra, Mumbai. The property, valued at ₹20 crore, spans 3,350 square feet and is situated on the second level of the Sandhu Palace building, an 18-floor structure. The purchase details, accessed via property registration documents from IndexTap, reveal that Rahul and Shetty paid ₹1.20 crore in stamp duty and an additional ₹30,000 in registration costs. The transaction, which includes four automobile parking spaces, was officially registered on July 15. The Sandhu Palace building has received a partial occupation certificate from the Brihanmumbai Municipal Corporation (BMC), ensuring compliance with local regulations. This prestigious address in Pali Hill is home to numerous Bollywood stars and affluent individuals, with luxury apartment projects in the area often costing ₹1 lakh or more per square foot, according to local brokers. In addition to their new residence, the couple has much to celebrate as the Board of Control for Cricket in India (BCCI) recently announced a ₹125 crore prize money award to the Indian cricket team’s players and coaching staff for their World Cup victory. For more information, please contact: Indextap About KL Rahul KL Rahul is a prominent Indian cricketer known for his exceptional batting skills and leadership on the field. He has represented India in various international tournaments and plays for the Indian Premier League (IPL). About Athiya Shetty Athiya Shetty is a Bollywood actress and the daughter of renowned actor Suniel Shetty. She has made a significant mark in the film industry with her performances and continues to be a prominent figure in Indian cinema.

Pune, [26 July 2024] – In a bold move to enhance post-possession customer service, Kohinoor Group has launched the “The SSR Helpdesk,” a state-of-the-art support system designed to ensure a seamless living experience for its residents. This innovative initiative is set to significantly benefit the 12,000 residents across Kohinoor’s properties, aligning with the company’s “Sada Sukhi Raho” philosophy. The SSR Helpdesk promises 24/7 availability running on a robust technology platform, allowing residents to reach out via calls, WhatsApp, and emails. A unique feature of this service is that complaints can only be closed through an OTP received on the customer’s mobile phone, ensuring customer satisfaction and control over the resolution process. With a dedicated team in place to address any issues, Kohinoor Group emphasizes personalized support and care tailored to each resident’s needs. This initiative highlights Kohinoor’s commitment to providing exceptional customer service and maintaining trust with its residents. Residents can easily raise tickets by calling the toll-free number, through WhatsApp or by emailing their concerns. The SSR Helpdesk was inaugurated today by the Chairman Mr. Krishnakumarji Goyal and Joint Managing Director Mr. Vineet Goyal, in the presence of the entire Kohinoor team. This customer-centric approach is expected to set a new benchmark in the real estate industry, showcasing Kohinoor Group’s dedication to enhancing the living experience of its residents. For further information, please contact: [email protected]