A Consumer’s Guide to Using Maha RERA Data

By Ramesh Nair, CEO & Country Head, JLL India

The data available on the MahaRERA website makes it one of the most detailed and informative among RERA websites deployed so far, thereby also making it one of the most potentially useful for end-users and investors to base their decisions on. The Maha RERA site provides consumers with a number of important details regarding ongoing residential real estate projects, and also new project launches, which were not available earlier. These details can help consumers in several ways, as long as they understand what data points to look for and how to interpret them. Here are some handy tips:

1. Project details: Whether the project is new launch or is an ongoing one which has not received a completion certificate prior to RERA commencement, MahaRERA requires submission of all the project details. The exact boundaries of the plot, complete information on the number of wings or towers in the project, their exact configurations, the common amenities provided and the number of car parking spaces booked and available, as well as the details of the project’s infrastructure works, are available online.

Details of approved FSI and the recreational open areas in each project are also mentioned. The developer must also submit all the approvals he has received for the project, including the land title search report, building plan approval, proforma of the allotment letter, etc. It is easy to search for these details on the MahaRERA website.

2. Project performance: Details related to the performance of a particular residential project is also available on the MahaRERA website. In fact, developers have to update the sales achieved in a project on a quarterly basis. Tracking the sales happening in a project has, therefore, become a lot easier and transparent. Earlier, buyers were often unclear about the actual sales a developer had achieved and depended largely on information by the developer’s sales team which could not be easily verified. Analyzing the sales achieved can help a consumer understand the kind of traction a project is garnering on the market, and accordingly take a much better-informed purchase decision.

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