RERA Act Has Boosted Credibility in Maharashtra’s Real Estate Sector: CM Devendra Fadnavis

Nagpur : Common people often have many doubts when purchasing property, homes, or flats. These doubts must be resolved with complete transparency. To ensure transparent cooperation between the government and the real estate sector, several changes have been implemented. Maharashtra was the first state in the country to implement the RERA (Real Estate Regulatory Authority) Act. Registering nearly 50,000 projects under RERA is a major achievement for the state, equal to the total number of projects registered across the country. This has significantly enhanced trust in the real estate sector, said Chief Minister Devendra Fadnavis.

He was speaking at the oath-taking ceremony of the newly elected executive committee of NAREDCO Vidarbha held at Hotel Centre Point. Minister of State for Finance Adv. Ashish Jaiswal, MLC Sandeep Joshi, Adv. Abhijit Wanjarri, MLAs Krishna Khopde and Pravin Datke, former MP Krupal Tumane, newly appointed NAREDCO Vidarbha President Dr. Kunal Patole, Chairman Ghanshyam Dhomne, and other dignitaries were present.

Chief Minister Fadnavis noted that NAREDCO Vidarbha is an organization that protects not only the interests of developers but also strongly safeguards consumer interests. It is reassuring that NAREDCO sincerely implements various government policies. The real estate sector has significantly contributed to the nation’s development. Since 65% of the GDP comes from cities, we have taken steps to bring greater transparency into this sector.

Now, any real estate developer who submits a proposal to an office will be able to access online updates on how long the proposal is pending at each table during the approval process, CM Fadnavis added.