List of RERA Registered Projects in Mumbai

The demand for real estate is continuously evolving, and cosmopolitan cities like Mumbai are constantly developing new projects to cater to this. Although it enables citizens to invest in their new homes, it also opens up roads to discrepancies. The lack of transparency and hike in fraudulent activities led to the central government's introduction of the RERA Act in 2016. RERA brings trust and transparency while purchasing properties to protect the buyers' interest.

In this blog, we will shed light on the importance of this act. We will also discuss the best completed and ongoing RERA-registered projects in Mumbai.

Understanding RERA

RERA was enacted in 2016 to protect home buyers' rights. RERA promotes transparency, accountability, and efficiency in the real estate sector. Developers are required to register their projects with the respective state's RERA authority. It informs buyers about the project's progress, specifications, and timelines. This regulatory framework ensures that consumers are well-informed and protected throughout the process of buying a home.

Pros and Cons of RERA Registered Projects

RERA registered projects in Mumbai offer significant protection for buyers but it comes with a fair share of pros and cons. Read on to find out.

Pros

1. Consumer Protection: RERA Mumbai provides a strong framework to protect the interests of homebuyers in Mumbai. The registration process ensures that developers adhere to the norms and deliver what was promised. This reduces the chances of fraud and misconduct.
2. Transparency: This act makes it compulsory for developers to provide accurate and transparent information about their projects. All updates are available on the official website, covering project specifics, timelines, and financial details. It enables potential buyers to make well-informed decisions.
3. Timely Delivery: One of the primary objectives of RERA is to ensure the timely completion and delivery of projects. Penalties are imposed on builders for any delays, helping home buyers avoid prolonged wait times. Home buyers, therefore, have more certainty regarding possession dates.
4. Quality Assurance: The certification requires developers to maintain specified construction standards. This ensures that the completed projects meet quality benchmarks. It contributes to the overall improvement of the real estate sector.
5. Legal Recourse: Homebuyers have legal options to implement in case of disputes or grievances. The act provides a platform for dispute resolution. It offers a streamlined and efficient process.
6. Standardised Practices: RERA establishes uniform rules and regulations across states and maintains consistency in the real estate sector. The standardisation promotes a level playing field for developers and also enhances the overall credibility of the industry.

While RERA brings several advantages to real estate buyers, it's crucial to weigh these against the potential challenges and drawbacks associated with its implementation.

Cons

1. Project Delays: Some projects may face delays despite the intent to ensure timely delivery. Some may be due to unforeseen circumstances such as regulatory hurdles, economic downturns, or external factors.
2. Increased Compliance Costs: Developers may incur additional costs to comply with RERA regulations. These costs can potentially be passed on to the homebuyers, leading to increased property prices.
3. Complexity in Implementation: The implementation of RERA involves coordination between various stakeholders. They include developers, regulatory authorities, and homebuyers. Ensuring effective enforcement and resolving disputes can be complex and time-consuming.
4. Impact on Small Developers: Smaller developers may find it challenging to meet the compliance requirements of this act. This potentially limits their ability to participate in the market. This could lead to a concentration of projects by larger, more established developers.
5. Market Slowdown: The rigid regulations imposed by RERA may contribute to a temporary slowdown in the real estate market. This is because developers take time to adjust to the new norms.
6. Dependency on Regulatory Authorities: The effectiveness of the act depends on the efficiency of the regulatory authorities. Investors cannot reap the benefits of regions where the authorities lack resources or face administrative challenges. 

Despite these challenges, the overall impact of RERA on the real estate sector is largely positive, as it works towards creating a more transparent, accountable, and consumer-friendly environment. In a city like Mumbai, where real estate is one of the most expensive in India, RERA Mumbai plays an indispensable role in protecting property buyers in Mumbai.

Here is a carefully chosen list of RERA projects in Mumbai that will give you vital information to help you with your real estate investment decisions in Mumbai.

• Read Also:- List of RERA Registered Projects in Pune

RERA Ongoing Projects in Mumbai

Invest in RERA-certified projects in Mumbai for assured safety and transparency. Here are some of the best RERA projects in Mumbai for your consideration:

Invest in RERA-certified projects in Mumbai for assured safety and transparency. Here are some of the best RERA projects in Mumbai for your consideration:

1. Linkbay Residences

Linkbay Residences by Adani Realty offers 2, 3 & 4 BHK luxury apartments and features rooftop spaces with top-tier amenities, providing an opportunity to appreciate the Mumbai skyline. The property boasts many lifestyle amenities, all within a 10-minute radius. The property boasts a connected entrance lobby of over 9000 sq.m, a clubhouse of around 4000 sq.m, and almost 4000 sq.m of retail shopping space. It has several fitness areas, including a sports arena, a badminton court, swimming pools, and a kids' play area.

Location: Andheri West

2. The Views

The Views is a RERA Mumbai project launched by Adani Realty Group. It offers 2 and 3 BHK luxury apartments and green surroundings. The floor-to-ceiling windows and spacious balconies add a stylish appeal to the design. Modern amenities include a jungle gym, enclosed gym, business centre, and outdoor swimming pool. The Views is surrounded by St. Xavier's High School and Vidya Niketan High School, R City Mall and Phoenix Marketcity, and restaurants like Urban Tadka and Hitchki Ghatkopar, making it an ideal destination for families.

Location: Ghatkopar East

3. Ten BKC

Ten BKC by Adani Realty has everything you want in a community. Choose from 3, 4, and 5 BHK apartments, each providing a well-planned layout and design. The buildings have spacious entrances, elevators, and a towering view. This project offers many upscale amenities. There are tiered gardens, a reflexology path, a swimming pool with cabanas, a walking path, and a kids' play area.

Location: Bandra East

4. Monte South

The Monte South by Adani Group has fully furnished residences. This RERA ongoing project in Mumbai brings you 2, 2.5, 3, and 3.5 BHK apartments with breathtaking interiors. The place is located in South Mumbai and is close to all facilities. Modern amenities of this residence include sports courts, a meditation room, a lounge, a play area, gardens, a gym, a clubhouse, and much more.

Location: Byculla

RERA Completed Projects in Mumbai

Many completed RERA projects in Mumbai offer commercial and residential spaces. Here is a list of top choices for you to explore:

5. Inspire BKC

Adani Realty introduced Inspire BKC for those discerning people who do not want to compromise on luxury and facilities. It is a commercial workspace that has thoughtfully designed, modern office spaces for companies who wish to make a mark. Amenities include a gym, food court, activity zone, food & beverage section, and a creche. There are spacious parking areas, high-speed elevators and lobbies with a welcoming and opulent aura. 

Location: Kurla Complex

6. Western Heights

Western Heights has 2, 2.5, 3, 3.5, and 4 BHK residences. These seaside apartments with unparalleled amenities define the essence of this prestigious development. Residents can access superior facilities such as indoor games, a state-of-the-art gym, a dedicated kids' play area, a versatile multipurpose hall, and a juice bar.

Location: Andheri West

• Read Also:- List of RERA Registered Projects in Ahmedabad

Explore RERA Compliant Homes

In your quest for a dream home, consider exploring RERA-certified projects in Mumbai. Prioritise RERA compliance to ensure transparency and accountability. This will give you peace of mind throughout your home-buying journey. Adani Realty is a trusted choice when you are searching for RERA-certified flats for sale. Depending on your preference, you can talk to the experts and book from upcoming or ready-to-move-in properties.