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The Real Estate Regulation Act (RERA) was passed in 2016 by the Indian government. The Act established RERA to protect homebuyers\u2019 interest, focusing on cultivating a greater level of transparency in the real estate industry. If you are looking to buy a property in Mumbai, do consider RERA registered ones.<\/p>\n\n\n\n
Read this article for insights into RERA <\/a>and how to check RERA registration. We answer how RERA brings a positive change and how to check RERA registered projects in Mumbai.<\/p>\n\n\n\n RERA rules ensure more accountability on the part of property\nsellers to protect the interest of homebuyers. Here\u2019s how-<\/p>\n\n\n\n As per RERA rules, builders are required to disclose every\ndetail to homebuyers. The details regarding their projects have to be updated\nregularly. This ensures fewer project delays and checks unethical selling. If\nthere\u2019s any delay, the builder is liable to pay 2% interest over SBI\u2019s MCLR for\nthe period of delay.<\/p>\n\n\n\n Builders of RERA registered projects can only price the property based on carpet area or built-up area. The rules refrain them from charging for super-built areas like lifts, stairs, lobbies, etc. The developers are also prohibited from taking more than 10% as advance payment.<\/p>\n\n\n\n The developers are liable to rectify defects arising within 5\nyears. If at the time of possession, there is any discordance with your title\ndeed, you can ask for compensation. The developers are also required to resolve\ndisputes within 120 days of filing. <\/p>\n\n\n\n Additional Read:<\/strong> Top\nThings Everyone Must Know About RERA Act of Maharashtra<\/a><\/p>\n\n\n\n In a city like Mumbai, it\u2019s best to be a cautious buyer. Check\nout these easy steps for your online RERA project search:<\/p>\n\n\n\n Step#1<\/strong> \u2013 To search for RERA registered projects in Mumbai, log on to MahaRERA<\/a> website – https:\/\/maharera.mahaonline.gov.in\/<\/p>\n\n\n\n Step#2<\/strong> – Now, go to the \u2018Registration\u2019 tab and click on \u2018Registered Projects\u2019. A new link will open and you will see the option to fill Project name and Promoter\u2019s name.<\/p>\n\n\n\n Step#3<\/strong> – You will see an option of \u2018Advanced Search\u2019 at the bottom of the page opened in the step above. On selecting this, you can enter the district, pin code and other details of the area in Mumbai, where you are searching the project. On entering these details and clicking on the \u2018search\u2019 option below, you will get a list of RERA registered projects in your area.<\/p>\n\n\n\n Additional Read:<\/strong> Difference\nbetween a RERA registered builder and others<\/a><\/p>\n\n\n\n So are you looking to buy your dream house? Buying a house with a RERA registered project will ensure you are making a safe investment decision. And we are eager to fund your safe investment. Tata Capital is India\u2019s most trustworthy source for a home loan<\/a>. We understand that real estate, especially in Mumbai, doesn\u2019t come cheap. So, we lessen your burden by providing home loans interest rates<\/a> starting just at 8.50%. For a smooth, transparent and hassle-free home loan in Mumbai<\/a>, Tata Capital is just the companion for you.<\/p>\n\n\n\nWhy RERA registered projects are recommended<\/strong><\/h2>\n\n\n\n
\u25cf Reduced project delays<\/strong><\/h3>\n\n\n\n
\u25cf Justified payments<\/strong><\/h3>\n\n\n\n
\u25cf Accountability after handover<\/strong><\/h3>\n\n\n\n
How to check RERA registered projects in Mumbai<\/strong><\/h2>\n\n\n\n