Maharashtra has been at the forefront to establish the institution framework in the form of Maharashtra Real Estate Regulatory Authority (MahaRERA), well ahead of other States in the country and an online registration of projects and complaints were made available to the promoters and home buyers, says Dr Vijay Satbir Singh, Member, Maharashtra Real Estate Regulatory Authority (MahaRERA) in conversation with Harshal Desai of Elets News Network (ENN).
What are your views on the concept of RERA? How has it helped regulate and streamline real estate sectors within the State?
Before RERA Act, 2016, the real estate sector in India has largely remained unregulated. It has introduced transparency, accountability and financial discipline in the working of this sector.
Simultaneously, it ensures timely completion of various projects by the promoters, by putting financial control on them. The promoters have to open separate designated accounts for the project in which they have to deposit 70 percent of the amount received from the allottees, which controls the promoters from releasing payment to any other project or purpose, which ultimately helps in completion of the project on time
Why MahaRERA has been able to perform better than other States? Please elaborate.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Zero Emission Mobility Is The Way Forward
The road ahead for improving the present scenario of the transport sector is to make way for electric vehicles and ensure zero emission, says Abhay Damle, Joint Secretary, Ministry of Road Transport and Highways, Government of India, as he puts spotlight on the challenges faced in introducing green mobility solutions and measures taken by the government to mitigate those, in an interview with Souvik Goswami and K C Mishra of Elets New Network (ENN).
Using Innovation, How Pilibhit DM Ensured Record Voting In LS Poll
A record 67.2 percent voting was achieved in Pilibhit in Phase-III of the ongoing Lok Sabha Elections, making it the top district in Uttar Pradesh to have registered maximum voter turnout.
Mizoram Beckons Investors Via Business Summit
The North East is the fastest growing part of India today, with the Government of India laying special emphasis and having a focussed approach of putting this part of India in the spotlight of growth and development.
Bringing Social Change Through NEDP
Though NEDP has been implemented by the State only recently and its activities are still confined to a few selected fields, its achievement in the social sector is encouraging. There still exist a great scope for expansion in terms of coverage and extent.
‘OUR MAIN FOCUS IS TO IMPROVE QUALITY OF EDUCATION'
Starting from June 2019, a massive campaign will be launched to increase class attendance in schools, as in each class quality of education depends on the knowledge from the previous class. This will be a non-financial intervention that would be taken up by involving parents, NGOs, media, self-help groups (SHGs), says Dr B Janardhan Reddy, Secretary, School and Higher Education Department, Government of Telangana, in an interview with Sudheer Goutham B of Elets News Network (ENN).
NEDP Intervention In Agriculture And Allied Sector
Agriculture and Allied Sector has been identified as one of the most important key growth drivers under the National Economic Development Plan (NEDP).
Smart Cities Catalysing Development Across Uttar Pradesh
With the State government led by Yogi Adityanath determined to transform Uttar Pradesh (UP), Smart Cities Mission is emerging as a ray of hope to realise this dream. As intensive use of smart solutions to develop smarter and sustainable cities in the country is gaining pace, UP is marching ahead in sinc with the time, observe Arpit Gupta and Ahmad Shariq Khan of Elets News Network (ENN).
The City Of Culture On Course To Becoming Truly 'Smart'
Thanks to a number of path-breaking initiatives under implementation, the historic City of Lucknow is marching ahead to soon become a truly ‘Smart’ city, says Anil Garg, Divisional Commissioner, Lucknow and Chairman, Lucknow Smart City Limited, in conversation with Arpit Gupta of Elets News Network (ENN).
El Salvador Looking At India To Partner For Growth
Pharmaceuticals is among the top exports from India to El Salvador, where local population has almost similar disease profile as Indians and has made a huge impact in making healthcare more affordable in his country, says Ariel Andrade Galindo, El Salvador’s Ambassador to India, in conversation with Vivek Ratnakar of Elets News Network (ENN).
Documenting India's Digital Evolution
With the governance in India steadily acquiring an improved version of administration and service delivery, the change in the system has been expedited by the power of digitisation.
