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Indian consumer body urges: Property portals must be brought under MahaRera

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Indian consumer body Mumbai Grahak Panchayat (MGP) recently urged MahaRera (Maharashtra Real Estate Regulatory Authority) to gather property portals under its scope to increase transparency in the real estate sector and promote accountability.

In a letter to MahaRera chief Gautam Chatterjee stated, "Real estate web portal companies operating in Maharashtra have to be treated as a 'real estate agent' under Rera."

It has also sought registration of such portals under MahaRera in the next 60 days.

"With regard to the definition of 'real estate agent', we have no doubts that property portals like Magicbricks.com, Makaan.com, 99acres.com, among others, are acting as agents, facilitating buying/selling of properties. As such they are legally liable to register themselves with MahaRera," MGP chairman Shirish Deshpande told PTI.

He further said MGP has approached MahaRera and is awaiting its response.

"MGP is of the view that registration of property web portals under MahaRera will create more confidence in minds of homebuyers and will also make them accountable/ responsible to homebuyers," Deshpande added.

Rera is an Act put into action in 2016, for regulation and promotion of the real estate sector and to ensure the sale of property or real estate project(s), in an efficient and transparent manner and to protect the interest of consumers in the real estate sector.

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