MahaRERA Compliance

1. MahaRERA Overview

The Maharashtra Real Estate Regulatory Authority (MahaRERA) was established under the Real Estate (Regulation and Development) Act, 2016 (RERA). It regulates and promotes the real estate sector by ensuring transparency, accountability, and homebuyer protection across Maharashtra.

Under the Act, all residential projects with more than 8 units or commercial projects above a stipulated threshold must obtain MahaRERA registration before any marketing, advertising, or sale activity commences.

Vikas Developer is fully compliant with all MahaRERA registration, escrow, and disclosure obligations for each ongoing project.

2. Registered Projects — Statutory Registry

The following Vikas Developer projects are registered with MahaRERA. Registration numbers may be verified on the official MahaRERA portal.

3. Statutory Escrow Compliance

As mandated by Section 4(2)(l)(D) of the RERA Act, 2016, Vikas Developer maintains dedicated project-specific escrow accounts for each registered project. A minimum of 70% of all homebuyer collections are deposited into the designated statutory account, which may only be utilised for construction and land-cost expenditure of the respective project.

This structure ensures that homebuyer funds are ring-fenced for project delivery and cannot be diverted to other ventures or operations.

Withdrawals from the escrow are governed by certified architect/engineer certification confirming proportional construction completion.

4. Homebuyer Rights Under RERA

The RERA Act, 2016 grants homebuyers substantive rights including:

• Right to accurate RERA carpet area measurement
• Right to stage-by-stage construction progress updates
• Right to interest on delayed possession (equal to SBI MCLR + 2%)
• Right to refund with interest in cases of significant defects
• Right to verified statutory documents before Agreement for Sale
• Right to five years post-possession structural defect liability

Vikas Developer commits to honouring all rights guaranteed to homebuyers under the RERA Act and applicable Maharashtra regulations.

5. Verify on the MahaRERA Portal

Homebuyers are encouraged to independently verify all Vikas Developer project registrations on the official MahaRERA portal. The portal provides:

• Project registration status and validity
• Sanctioned architectural plans
• Commencement Certificate (CC)
• Occupancy Certificate (OC) for completed projects
• Quarterly progress reports submitted by the promoter
• Escrow account statement (on request)

Official Portal: maharera.maharashtra.gov.in →

6. Official Contact

For official RERA-related queries, document requests, or clarifications regarding Vikas Developer's statutory compliance, contact:

For statutory legal disclaimers and architectural tolerance disclosures, see the Statutory Legal Disclaimer.