In an interactive session with realty players organised by the National Real Estate Development Council, Chatterjee asked them to be up front as they were entering into a phase of transparency with the enactment of the Real Estate (Regulation & Development) Act 2016 and the establishment of MahaRERA.
Maharashtra Real Estate Regulatory Authority (MahaRERA) chairman Gautam Chatterjee on Monday asked realty players to restrict releasing advertisements which promise the moon. Instead, he said, “Advertise what you actually are giving to the buyers. Don’t give any false hopes. Ensure that advertisements, brochures, prospectus issued or published mention the MahaRERA registration number and the MahaRERA website address.”
In an interactive session with realty players organised by the National Real Estate Development Council, Chatterjee asked them to be up front as they were entering into a phase of transparency with the enactment of the Real Estate (Regulation & Development) Act 2016 and the establishment of MahaRERA.
“Be responsible for all the obligations, responsibilities and functions under the Act. Follow rules and regulations in accordance with the agreement for sale. Also, be responsible for completion of the project which gets an occupational certificate,’’ Chatterjee added.
He clarified that no extension will be given for registration of ongoing projects beyond July 31. He stressed that accountability is a priority and registration will bring in discipline in the sector “Rather than bunching everything in the last week of July, register by end of June. It will take us time as we are not super human beings. Till registration, you are prevented from advertisements and selling. You need to have digitally signed the certificate until July 31,’’Chatterjee said.
Of the 47 registered projects, MahaRERA has approved 25 projects while another two will soon be given approval. ‘“We want to follow the timeline as specified in the Act for all approvals,’’ he added.
Due attention will be given on transparency and customer centricity also mandated by the Act. “Protection of consumers’ interest is of paramount importance. Buyers should get value for their money,’’ he said. He reminded that there were stronger financial penalties for non-compliance of MahaRERA.
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 "Gautam Chatterjee")
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