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Property portals should be purchased beneath MahaRera, says shopper physique Mumbai Grahak Panchayat

Property portals must be bought under MahaRera, says consumer body Mumbai Grahak Panchayat

Mumbai: Metropolis-based shopper physique Mumbai Grahak Panchayat (MGP) has urged MahaRera to carry property portals beneath its ambit to additional enhance transparency and accountability in the true property sector.

In a letter to MahaRera chief Gautam Chatterjee, a duplicate of which is with the PTI, MGP mentioned, “Actual property net portal firms working in Maharashtra need to be handled as ‘actual property agent’ beneath Rera.”

It has additionally sought registration of such portals beneath MahaRera within the subsequent 60 days.

Representational picture.

“With regard to the definition of actual property agent, we now have no doubts that property portals like Magicbricks.com, Makaan.com, 99acres.com, amongst others, are performing as brokers, facilitating shopping for/promoting of properties. As such they’re legally liable to register themselves with MahaRera,” MGP chairman Shirish Deshpande advised PTI.

He additional mentioned MGP has approached MahaRera and is awaiting its response.

“MGP is of the view that registration of property net portals beneath MahaRera will create extra confidence in minds of homebuyers and also will make them accountable/ accountable to homebuyers,” Deshpande added.

The Actual Property (Regulation & Growth) Act, 2016 (Rera), which got here into full impact from Could 2017, mandates everybody finishing up the actions of an ‘agent’ as outlined by the Act to register themselves beneath Rera.

Nevertheless, if an actual property portal is a mere platform the place brokers and builders are displaying their commercial than it doesn’t want registration.

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