After the implementation of the Real Estate (Regulation and Development) Act, 2016, all the promoters who undertake the development of the project are obligated to give some disclosure on their website. In a nutshell, the requirement of prescribed disclosures does not only make more accountable to the promoters but also provide a better transparency for allottees.
In addition of the above, Maharashtra Real Estate Regulatory Authority (MAHA-RERA) mandates the promoters to upload the information relating to suppliers and vendors of the construction material on their respective website including guarantee period of the material and such information is required to display in addition to the other disclosures as required under the Act. Thus, it makes the equally responsible to the vendors and suppliers. Finally, it is a vital step taken by MAHA-RERA to ensure the promoters of the registered projects fully accountable for the quality of construction.
In recent times, it has been noticed that even after the construction is completed the quality of the construction is quite sub-standard, therefore it was necessary to bring in the material suppliers under the purview of RERA so that they can also feel some sense of responsibilities towards their duties.
MAHA-RERA chairman Mr Gautam Chatterjee told DNA,” The whole exercise is to make promoters of MAHA-RERA registered projects fully accountable for the quality of construction.”The city-based consumer organization Mumbai Grahak Panchayat (MGP) has in its representation to the Chief Minister Shri Devendra Fadnavis had pressed the need for making vendors and suppliers along with the promoters answerable for a poor quality of housing construction. MGP chairman Shirish Deshpande said, ”
This will assure consumers of the quality of construction and thus ensure value for money. It is the mandate of RERA to regulators to ensure the quality of housing construction.”
By above, it can be inferred that MAHA-RERA is on a rampage to hammer not only to the builders but also to the vendors and suppliers of material who were earlier standing outside the umbrella of RERA Act 2016.
Disclaimer – Please note that the above articles is based on the interpretation of related laws and judicial pronouncement which may differ from person to person. The reader are expected to take the expert opinion on the matter.