MahaRERA forms 33-member forum

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has formed a forum of 33 conciliators to set up 15 teams comprising two members each, one from realty developers’ industry body and another from consumer forums, representing homebuyers. ET had earlier reported that 10 conciliation teams of these will take care of matters related to homebuyers from the Mumbai Metropolitan Region (MMR) while the rest five will be for the Pune real estate market. The forum includes 18 builders who are members of developers’ bodies including the Confederation of Real Estate Developers Association of India (CREDAI) and National Real Estate Development Council (NAREDCO). Apart from this, MahaRERA has named 15 representatives of Mumbai Grahak Panchayat and Grahak Panchayat Pune to represent homebuyers’ interest. In addition to 15 teams with two members each, the regulator has also appointed three extra conciliators who can be part of the teams in case of any shortfall due to any reason. Builder representatives include Niranjan Hiranandani, Paras Gundecha, Rajesh Prajapati, Mukesh Mehta, Pravin Doshi, Vijay Wadhwa and Rajan Bandelkar. Interestingly, it has also named builder members such as Ashok Mohanani of Ekta World against whom the regulator has delivered a ruling. “For now, we are setting up conciliation teams for MMR and Pune as most of the complaints we are receiving from homebuyers are for projects from these markets. If necessary, we can create separate teams for other key cities later on,” MahaRERA chairperson Gautam Chatterjee had told ET earlier. These teams have been formed in the backdrop of MahaRERA receiving many complaints and looking to create a filter. This body can be approached by homebuyers and builders for reaching a consensus, thus leaving only matters that cannot be resolved for MahaRERA's intervention. Members of realty developers’ associations, including pan-India bodies such as National Real Estate Development Council (NAREDCO) and the Confederation of Real Estate Developers Association of India (CREDAI), apart from state level body the Maharashtra Chamber of Housing Industry (MCHI) will be part of these benches. The bench will have members from voluntary consumer organization Mumbai Grahak Panchayat to represent homebuyers.