Maha-Rera has made builders answerable in Pune

Maha-Rera has given a respite to homebuyers who were earlier at the mercy of builders and developers. Now builders need to give exact date of hand over of flat and, if he is not able to maintain it, homebuyers can sue them and get compensated. All the conciliation benches constituted under the Real Estate (Regulation and Development) Act or RERA in Mumbai, Pune and Nagpur have a success rate of 90 per cent. Customers are feeling satisfied and the mechanism has gained confidence with homebuyers and developers for amicable solutions, happening within the schedule time frame. The Confederation of Real Estate Developers’ Associations of India (Credai)-Maharashtra, Credai-Maharashtra Chamber of Housing Industry (MCHI) and National Real Estate Development Council (Naredco) along with Mumbai grahak panchayat (MGP) are playing a crucial role in the conciliation process.