Maharashtra
Maharashtra: Going to buy a house soon? Here are 14 ‘must know’ points to keep in mind
Prior to stepping out to commence house hunting, the home buyers are supposed to do some homework. Usually, individuals either approach real estate agents or walk-in into a developer’s construction and sales site. What gets ignored is due diligence as prescribed by the Maharashtra Real Estate Regulatory Authority (MahaRERA).
A homebuyer should always be cautious on what they are verbally assured and promised by the builder and an agent vis-à-vis what is actually mentioned in the fine print of the documents signed. There have been numerous instances wherein there has been a mismatch in verbal promise and the legal conditions in an agreement for sale.
The Maharera has issued some basic guidelines for such home buyers as well as investors to prevent fraud and getting into trouble while transacting in a real estate deal.
Prior to sealing the deal, question oneself with:
BEFORE BUYING A HOME
1) Check only MahaRERA registered project
2) Verify developer mentioned completion date on MahaRERA’s website
3) Ink an agreement and allotment letter as per prescribed format
4) Don’t pay more than 10% payment prior to signing the agreement
5) Entertain only through MahaRERA registered real estate agents
IMPORTANT MahaRERA PROVISIONS
6) Financial Discipline: 70% of funds collected to be used for construction
7) Transparency: Detailed project information on MahaRERA’s website
8) Quarterly progress reporting by promoters
9) Consent of two-third allottees must for any major project alteration or addition
10) Complaint filing & conciliation
AFTER THE PURCHASE
11) Monitor the project’s progress through MahaRERA website
12) Only MahaRERA Carpet Area to be referred to for all transactions
13) Ensure documents are as per Model Agreement & Model Allotment Letter
14) Complaint against Promoter or Agent for breach of any promise
If the project is registered with MahaRERA, the developers have to fulfil several conditions under the RERA Act for the benefit of the customer. These conditions include maintaining an escrow account for the project. A total of 70% of the money received from the buyers for the project has to be kept in this account to undertake work on the same project. Moreover, the developer is required to update the project status on MahaRERA’s website every three months.
“Apart from this, starting January 1, MahaRERA will register new projects having the DIN Number of all the directors and promoters of the project. This is to make transparent the related interest that the promoter has other than the project that is under construction,” said a MahaRERA official.
Maharashtra
Special NIA Court Allows Activist Gautam Navlakha To Visit Ailing Sister
The special NIA court on Thursday permitted activist Gautam Navlakha, an accused in the Elgar Parishad-Maoist links case, to travel to Delhi for two months to be with his ailing elder sister.
Navlakha had approached the court for modification of the bail order granted last year, which restricted his movement to city limits.
The prosecution opposed the plea, apprehending that he may influence witnesses or skip the trial.
The court ruled out these possibilities and allowed the plea but with several conditions. Navlakha has been asked to furnish details of his mobile phone number on which video call facility is available, furnish his travel details, and deposit his passport in the court before leaving the city.
Maharashtra
Party Rebels Contesting Against MVA Candidates To Face Six-Year Suspension: Congress Leader Ramesh Chennithala
Congress leader Ramesh Chennithala on Thursday said all the party rebels contesting against the official candidates of the Maha Vikas Aghadi (MVA) have been suspended for six years.
In a press conference, Chennithala stated that district units have been directed to compile a list of rebels still in the race for the November 20 Maharashtra assembly polls and issue notices to them.
“There will be no friendly contests. All rebels running against the MVA’s official candidates have been suspended,” said Chennithala, the All India Congress Committee in-charge of Maharashtra.
In some constituencies, despite official candidates from both Mahayuti and MVA, candidates from allied parties have been fielded. In other areas, friendly contests are happening. Several leaders have filed nomination papers after rebelling.
Maharashtra
Maharashtra Elections 2024: Devendra Fadnavis Refers To Sharad Pawar As ‘Owner Of Fake Narrative Factory’; Slams Opposition Over Claims About Industries Leaving State
Mumbai: In a scathing attack on Sharad Pawar, Deputy Chief Minister Devendra Fadnavis referred to the NCP leader as the “owner of a fake narrative factory” during an election rally in Pimpri-Chinchwad. Fadnavis accused Pawar and opposition leaders of spreading false information about industries leaving Maharashtra for Gujarat, attempting to tarnish the state’s image. He made it clear that Maharashtra remains the top choice for investment, with 52% of the country’s foreign investment flowing into the state.
Addressing a rally in support of Mahayuti candidate Shankar Jagtap, Fadnavis emphasized that Maharashtra is strong industrially and that the information being spread by the opposition is misleading. He stated, “Our government has made Maharashtra an ideal destination for investment.” According to Fadnavis, reports suggesting a shift in the state’s industrial landscape were false and intended solely to mislead the public.
Fadnavis Targets Supriya Sule
Fadnavis also targeted NCP MP Supriya Sule, calling her the “manager of the fake narrative factory.” He accused Sule of spreading incorrect information about IT companies leaving Hinjewadi, a major IT hub in Pune. Fadnavis stressed that both Maharashtra’s industrial and IT sectors are strong, and any challenges faced were the result of the difficulties encountered during the tenure of the Maha Vikas Aghadi government. He labeled Sule’s statements as incorrect and harmful to the state’s progress.
Fadnavis also responded to criticism of Uddhav Thackeray’s “Ladki Behin Yojana” . He said that Thackeray’s approach, focused on opposition for the sake of it, was disconnected from the needs of ordinary people. Fadnavis clarified that the scheme would provide financial aid and educational opportunities to thousands of girls across Maharashtra.
Concluding his speech, Fadnavis reassured the audience about job creation under the BJP government. He announced an ambitious goal of generating employment opportunities for 10 lakh youths and promised to rejuvenate Maharashtra’s economic stability. He urged voters to be cautious of the “fake narratives” being spread by the opposition and to trust in the state’s economic progress.
Throughout the rally, Fadnavis highlighted BJP’s transparency and development-oriented policies, portraying the opposition’s tactics as a strategy to promote “fake narratives” and undermine the state’s growth.
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