MahaRERA’s SOP authorizing homebuyers to be out next week

Homebuyers in the state will soon have the power to remove a builder from a project for delays in its completion. The Maharashtra Real Estate Regulatory Authority (MahaRERA) is expected to come out with the Standard Operating Procedure (SOP) by next week, which would allow homebuyers to approach the authority for a builder’s removal from a housing project for his/her failure to complete it on time. The SOP would bring relief to homebuyers as around 80% complaints reaching MahaRERA pertain to delay in project completion. And the authority is being helped by consumer forums to lay down the rules in the interest of allottees. “The team at MahaRERA is working out all the parameters and the SOP should be out by next week,” MahaRERA secretary VasantPrabhu.