Impact of Maha-Rera Act 2016 on the Real Estate Industry

Abstract

The enactment of Maha-RERA Act 2016 will a able to make a step forward for the sophisticated and transparency in the Real estate market for both seller and buyer. Before establishment of Maha-RERA act there was no centricity for the real and no transparency between the buyer and seller. During the enactment of the Act for the short term Real estate industry was affected by it. All the real estate projects were slow down sales marketing and also the construction work. But there are hopes that further there will be proper market establishment for the real estate industry. Adjudicating appellate tribunal department has fast track process in solving the issues in real estate project, which has given a good response to all the cases in solving the disputes related to it. Many of the terms like carpet area, promote co-promoters, sales of parking etc are point which had lots of confusion in market has been cleared in this Act..