Buying a home is one of the most significant financial decisions you will ever make. To protect buyers from fraudulent practices and ensure fair dealings, the Government of India introduced the Real Estate (Regulation and Development) Act, 2016 (RERA). In Maharashtra, this act is implemented under the Maharashtra Real Estate Regulatory Authority (MahaRERA).
If you are considering investing in a project like The Green Arc by SSB Group, it is essential to understand the difference between RERA and MahaRERA and how they impact your buying decision. This guide provides expert insights, legal context, and practical examples to help you make an informed choice.
What is RERA?
The Real Estate (Regulation and Development) Act, 2016, or RERA, is a landmark legislation aimed at regulating the real estate sector in India. Its primary objectives are:
- Protecting homebuyers from unfair practices.
- Bringing accountability and transparency to developers.
- Ensuring the timely delivery of projects.
- Providing a platform for quick dispute resolution.
For example, before RERA, homebuyers often faced project delays without recourse. With RERA, builders must declare project timelines and stick to them.
What is MahaRERA?
MahaRERA is the state-level authority that ensures RERA is effectively implemented in Maharashtra. It monitors registered developers, maintains a transparent database of approved projects, and provides an online grievance redressal system for buyers.
Projects such as The Green Arch by SSB Group are listed under MahaRERA, offering buyers the trust that the project follows state-specific rules and legal safeguards.
What is the MahaRERA Act and Rules?
The MahaRERA Act and rules lay out specific protections for homebuyers:
- Developers must deposit 70% of funds into a separate account to prevent fund diversion.
- All project details, approvals, and timelines must be disclosed publicly.
- Homebuyers can claim refunds with interest in case of delays or project cancellation.
- Builders must obtain buyer consent before altering layouts or project plans.
These rules demonstrate MahaRERA’s buyer-first approach, ensuring you can invest in projects like The Green Arch by SSB Group with confidence.
What is MahaRERA Registration?
MahaRERA registration is the official approval a project must obtain before being advertised or sold in Maharashtra. Builders must submit:
- Approved plans and layouts.
- Land title documentation.
- Timeline for completion.
- Financial details with at least 70% of project funds deposited in a separate bank account.
Without this registration, a project cannot be legally sold in Maharashtra. Buyers can verify registration details on the MahaRERA website.
Difference Between RERA and MahaRERA
Aspect | RERA (Real Estate Regulation Act) | MahaRERA (Maharashtra Real Estate Regulatory Authority) |
Jurisdiction | Central Act applicable across India | State-level authority specific to Maharashtra |
Scope | Provides a national framework for real estate regulation | Implements and enforces RERA within Maharashtra |
Implementation | Sets guidelines for transparency, accountability, and buyer protection | Monitors projects, developers, and agents in Maharashtra |
Registration Requirement | Projects across India must be registered under the respective state RERA | Builders in Maharashtra must register with MahaRERA before selling or advertising |
Dispute Resolution | General framework for handling disputes | Dedicated online portal for filing and resolving disputes in Maharashtra |
Transparency Measures | Mandates that project details be disclosed by developers | Project details (plans, approvals, timelines) are publicly available on the MahaRERA website |
Authority | National-level legislation passed by the Government of India | State-level authority functioning under the national RERA Act |
Objective | Protect buyers and regulate developers across India | Safeguard buyer interests and streamline real estate transactions in Maharashtra |
Difference Between RERA Registered and RERA Approved
Many buyers confuse the terms, but the difference between RERA-registered and RERA-approved is crucial:
- RERA Registered: The project is listed with the RERA authority and has submitted all required documents.
- RERA Approved: The authority has verified compliance, making the project legally valid for marketing and sales.
Always cross-check a project’s registration number on the official website before purchasing.
Difference Between RERA and Non-RERA Projects
Understanding the difference between RERA and non-RERA projects is vital for risk-free property investment.
- RERA Projects:
- Legally registered.
- Transparent timelines and legal documents.
- Strict accountability for developers.
- Buyers can claim refunds or compensation for delays.
- Legally registered.
- Non-RERA Projects:
- No legal accountability.
- High risk of project delays or cancellation.
- Limited buyer protection.
- No legal accountability.
For example, The Green Arch by SSB Group, being MahaRERA registered, ensures a safer investment than non-RERA alternatives.
Difference Between RERA and CREDAI
Another point of confusion is the difference between RERA and CREDAI:
- RERA: A government-backed law ensuring accountability and transparency in real estate.
- CREDAI: An industry body (Confederation of Real Estate Developers’ Associations of India) representing developers, promoting ethical practices, but not a legal authority.
RERA protects buyers legally, while CREDAI promotes professionalism within the developer community.
Why Choose MahaRERA Projects?
Investing in a MahaRERA-registered project ensures:
- Legal protection against fraud.
- Transparent pricing and project details.
- Accountability of developers.
- Timely possession with financial safeguards.
This is why projects like The Green Arch by SSB Group stand out as reliable investments in Maharashtra’s real estate market.
For a detailed explanation, check our guide on why is RERA required in real estate.
Conclusion: Invest Smart with MahaRERA
The difference between RERA and MahaRERA lies mainly in jurisdiction, but their shared goal is protecting homebuyers. RERA creates the framework, while MahaRERA ensures effective enforcement in Maharashtra.
Choosing MahaRERA-registered projects like The Green Arch by SSB Group ensures peace of mind, transparency, and legal protection. In a market where trust is essential, always prioritise compliance with RERA and MahaRERA before making your investment decision.
FAQs
Q1: What is the difference between MahaRERA and RERA?
RERA is the central law for real estate regulation across India, while MahaRERA is the Maharashtra-specific authority implementing it.
Q2: What is the advantage of RERA-registered property?
It ensures transparency, timely possession, and buyer protection against false claims.
Q3: What is the main purpose of MahaRERA?
To regulate projects in Maharashtra, safeguard buyer interests, and ensure on-time delivery.
Q4: Can builders sell without RERA?
No, in Maharashtra, builders cannot market, advertise, or sell properties without MahaRERA registration.
Q5: Who is eligible for RERA property in Maharashtra?
Any buyer or investor can purchase RERA properties, ensuring complete legal protection.
Q6: What is the main purpose of MahaRERA?
To enhance transparency, accountability, and trust in Maharashtra’s real estate sector.
Q7: What is the difference between RERA and non-RERA projects?
RERA projects are registered with the Real Estate Regulatory Authority, ensuring transparency, legal protection, and timely possession for buyers. Non-RERA projects are not registered, which means they lack accountability and pose higher risks of delays or disputes.
Q8: What is the difference between RERA-registered and RERA-approved?
A RERA-registered project is one that has been officially submitted and listed with the authority. A RERA-approved project goes a step further, meaning it has complied with all the required norms and is legally valid for marketing and sales. Buyers should always check the project’s registration number on the official RERA portal.
Q9: What is MahaRERA registration?
MahaRERA registration is the process by which a developer in Maharashtra registers their real estate project with the Maharashtra Real Estate Regulatory Authority. This registration ensures that the project is legally compliant, transparent, and eligible for marketing and sale.
Q10: What is MahaRERA?
MahaRERA stands for Maharashtra Real Estate Regulatory Authority. It is the state-level authority responsible for implementing the RERA Act in Maharashtra. MahaRERA monitors projects, resolves disputes, and ensures that builders and agents comply with real estate regulations.
Q11: What are the MahaRERA Act and rules?
The MahaRERA Act and rules are the state-specific implementation guidelines of the national RERA Act. They include provisions such as mandatory project registration, financial transparency (70% of funds in a separate account), disclosure of project details online, and strict accountability for builders. These rules protect buyers and enhance trust in Maharashtra’s real estate sector.
Q12: What is the difference between RERA and CREDAI?
The difference between RERA and CREDAI lies in their roles:
- RERA is a government regulatory framework that protects buyers and enforces accountability on developers.
- CREDAI (Confederation of Real Estate Developers’ Associations of India) is an industry body representing developers, promoting ethical practices, and advocating for the real estate industry.
