Developers in Maha seek clarity on title insurance
Title insurance for projects registered under the Maharashtra Real Estate Regulatory Authority (MahaRERA) is yet to take off with developers seeking more clarity on the benefits to consumers and seeking reduction in premium charges. While the Real Estate Regulation and Development Act 2016 (RERA) mandates the purchase of title insurance for all new and ongoing property projects registered with the regulatory body, the concept of title insurance, aimed at protecting promoters and customers of real estate projects against several risks, has failed to take off in the state.
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