74% homebuyers unaware of how to check RERA status of project: Magicbricks Consumer Choice Poll

74% homebuyers unaware of how to check RERA status of project: Magicbricks Consumer Choice Poll
01/05/2018 , by , in News/Views

A poll conducted by property site Magicbricks, shows that 74 per cent of respondents do not know that it is mandatory to check if the project is registered with state Real Estate Regulatory Authority (RERA) and how to go about checking it on the RERA website. Even a year after its implementation, the RERA (Regulation and Development) Act, 2016, seems to be far from creating the connect as 74% of home buyers still don’t know how to check if their projects are registered under this Act, revealed a Magicbricks Consumer Choice Poll.

“States where the governments have been proactive and got the website and the machinery going have also seen a large number of consumers using it to check the legality of their project. However, since a large number of states are yet to get their act together, consumer awareness too is low,” says E Jayashree Kurup, Head Editorial and Advice, Magicbricks.

Maharashtra and Madhya Pradesh were the first states to be ready with the RERA authority and websites on May 1, 2017, when the law became a reality. Developers and brokers across Maharashtra swear that consumers are actively using the website and keeping themselves up-to-date with approvals, stages of construction and all other details related to the project. More than 15000 projects are already registered with the MahaRERA.

On the other hand, in Gurgaon, more than 150 projects are registered but as there is no Haryana or Gurgaon RERA website operational, consumers cannot use these as reference points to check approvals or completion status. However, the authorities are now set up and consumers can either mail or physically visit the offices in Gurgaon and Panchkula and get their problems and doubts cleared.

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