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Buying a home is one of the most significant investments, and ensuring it is legally secure is crucial. MahaRERA (Maharashtra Real Estate Regulatory Authority) provides home buyers with a structured process to verify real estate projects and safeguard their investment. Before purchasing a property, it is essential to follow a structured MahaRERA checklist for new home buyers to avoid legal and financial risks.
In this guide, we’ll walk you through the critical steps every buyer should follow before finalizing their dream home in Maharashtra.
- Verify MahaRERA Registration of the Project
The first and most crucial step for any new home buyer in Maharashtra is to check if the project is registered under MahaRERA. As per the RERA Act, 2016, all real estate projects exceeding 500 sq. meters or involving more than eight apartments must be registered with MahaRERA.
To check project registration:
- Visit the official MahaRERA website
- Enter the project name or developer details in the search bar
- Verify project approvals, completion timeline, and litigation status
- Check Approved Plans and Legal Clearances
A critical part of the MahaRERA checklist for home buyers is verifying whether the project has obtained necessary approvals from local authorities. Buyers should check:
- Land ownership documents
- Building plan approvals
- Commencement and occupation certificate
- Environmental clearances
These documents are essential to ensure that the property is legally approved and free from encumbrances.
- Understand Carpet Area vs. Built-Up Area
When investing in a property, buyers often get confused between carpet area, built-up area, and super built-up area. As per MahaRERA, developers must clearly mention the carpet area, which is the actual usable area inside the apartment.
To avoid discrepancies:
- Verify the carpet area mentioned in the agreement
- Compare it with the MahaRERA registration details
This ensures transparency and prevents misleading advertisements from builders.
- Review Builder’s Track Record and Past Projects
A reliable MahaRERA registered developer should have a strong history of delivering quality projects on time. Buyers should:
- Check the developer’s past projects and customer reviews
- Verify complaints filed against the builder on the MahaRERA website
- Ensure there are no legal disputes related to the property
A good reputation reduces the risk of project delays and fraud.
- Examine the Sale Agreement Terms
Before signing the sale agreement, thoroughly review the terms and conditions. MahaRERA mandates that developers use a standard Agreement for Sale, which includes:
- Project completion timeline
- Payment schedule and penalties for delays
- Refund policies and cancellation terms
Legal experts recommend reading the fine print carefully before making a financial commitment.
- Understand Payment Schedule and Financial Planning
Buyers should ensure that they are aware of the payment structure and loan eligibility before purchasing a home. MahaRERA prohibits builders from demanding more than 10% of the property value as an advance payment before signing the agreement.
Key financial aspects to check:
- Home loan eligibility and interest rates
- Stamp duty and registration charges
- GST applicable on under-construction properties
This helps home buyers plan their finances effectively and avoid hidden costs.
- Verify Completion and Possession Timeline
The MahaRERA registered project should clearly mention the possession timeline. In case of delays, MahaRERA allows buyers to claim compensation. Before buying a property, verify:
- The promised possession date
- The reason for any project delays
- Whether the builder has delivered past projects on time
This ensures that buyers are not stuck in endless delays.
- Check Post-Possession Responsibilities of Developers
Under MahaRERA, developers must provide maintenance and repair services for up to five years after possession in case of structural defects. Buyers should:
- Ensure the warranty period is mentioned in the agreement
- Keep records of builder commitments in writing
This protects homeowners from unforeseen repair costs.
Final Thoughts
Following this MahaRERA checklist for new home buyers ensures that you invest in a legally approved and transparent project. Always verify project registration, check legal clearances, and review builder credibility before making a purchase. By staying informed, you can secure your dream home without financial or legal troubles.
For more details, visit the official MahaRERA website and conduct a thorough project verification before investing.
