With the appointment of the dynamic new Chairperson, MahaRERA Update 3.0 is here, and more observant than ever! Hon’ble Chairperson Shri Manoj Saunik, who took the helm in September 2024, has revitalized the entire department, aiming to elevate the legacy of his esteemed predecessors, Shri Gautam Chatterjee and Shri Ajoy Mehta, to unprecedented heights. The groundwork laid by these visionaries ensured that RERA was implemented in Maharashtra with both precision and passion. Their initiatives fostered widespread acceptance of the law among all industry stakeholders, and they issued pivotal directives to uphold the 3 Ts of MahaRERA — Trust, Transparency, and Timely completion of projects.

Here are some of the game-changing updates introduced recently :

 

  • Fast-track disposal of complaints: Under Shri Manoj Saunik's leadership, RERA has enhanced the resolution of disputes in the real estate sector. The goal? To efficiently clear the backlog of pending cases and ensure swift justice for all parties involved.
  • Due diligence for buyers: Buyers, take note! RERA now underscores the importance of conducting thorough due diligence before purchasing property. Remember, projects are registered with MahaRERA, not approved by it. To ensure we are well-prepared and can handle any potential challenges, it's important to thoroughly review and complete all necessary tasks in advance.
  • Skyrocketing compliance levels: Compliance rates have soared from a mere 0.2% in January 2023 to an impressive 62% in January 2025. This remarkable improvement reflects the department's unwavering commitment to upholding the law.
  • Stronger enforcement actions: RERA is now a vigorous regulatory authority. Developers who fail to comply with its regulations may face significant repercussions, including the freezing of bank accounts and the suspension of property registrations for non-compliant projects.
  • Non-negotiable clauses: Key clauses such as Carpet Area Variation, Defect Liability, Force Majeure, Termination, Society Formation, Conveyance, Car Parking, and Amenities must now adhere strictly to the Model Agreement for Sale prescribed by MahaRERA. These measures are designed to protect buyers' rights and minimize future disputes.
  • Pre-emptive show-cause notices: MahaRERA is now proactively comparing costs incurred (as per Form 3) with work progress (as per Form 1). If discrepancies are found, the department may issue suo-moto show-cause notices, even before receiving complaints from buyers.
  • Fast-track execution of warrants: A new system has been introduced to ensure the swift execution of warrants issued by MahaRERA, further streamlining the enforcement process.

These transformative changes signal a bold new direction for MahaRERA under Shri Manoj Saunik's leadership. They underscore the department's dedication to fostering greater transparency, trust, and timely completion of real estate projects in Maharashtra. The vision for the future is clear: to build a more robust, trustworthy, and consumer-friendly real estate environment in the state.

As an advocate deeply involved in the real estate sector, have witnessed firsthand the positive impact of MahaRERA's initiatives on the industry. The recent updates under Shri Manoj Saunik's leadership are not just regulatory changes; they represent a turnaround towards a more transparent and accountable real estate market.

The emphasis on fast-tracking complaint resolutions and enforcing compliance is a proof to MahaRERA's commitment to protecting consumer interests. The introduction of non-negotiable clauses and pre-emptive show-cause notices are proactive steps that will undoubtedly reduce litigation and foster a more trustworthy environment for buyers and developers alike.

Encouraged by the significant increase in compliance levels, which reflects the industry's growing acceptance of MahaRERA's regulations. This progress is a clear indication that we are moving towards a more disciplined and consumer-friendly real estate market in Maharashtra.

As we continue to navigate the evolving landscape of real estate, I am confident that MahaRERA Update 3.0 will serve as a robust framework for ensuring the timely completion of projects, safeguarding buyer interests, and promoting overall industry growth.