Recently the Government of Maharashtra implemented the latest changes in the Real Estate Act rules which is being celebrated for being in favor of buyers and ensuring that builders are stringent in maintaining standards. According to the new rules, it will become mandatory for builders to disclose all their upcoming projects to RERA specialists including the ongoing ones without being biased towards any venture. Owing to this move, it will become simpler to buy property in Maharashtra as RERA will make things more transparent than before.
Owing to the municipal corporation elections, despite being proposed, the new plans could not be implemented. It will, however, be cleared at the earliest and in the new guidelines, almost every concern of the buyers have been addressed as the state bodies want to make it easier for buyers to purchase property in Mumbai and surrounding areas in Maharashtra more easily.
Mumbai’s Grahak Panchayat’s Advocate, Shirish Deshpande has mentioned that there was no weakening of the core Act because of the changes which have been made. In fact, he appreciated the move and even mentioned that he had helped set up some of the recommendations and had been informed when they were implemented. However, he is not assured till he sees the new changes in print.
Apart from changes in the RERA Act, another thing which can make the process of buying a flat in Mumbai is a home loan. There are various financial institutions who offer home loan of up to Rs. 3.5 crores which can be paid back in a tenor of up to 20 years. The interest rates and terms and conditions, however, vary from one lender to the other. It is thus ideal to check what each lender has to offer thoroughly before choosing a lender. To finance your home, you can get a home loan at lowest home loan interest rate from the Bajaj Housing Finance which is the India's most trusted housing company.
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