Manoj Saunik, Former Chief Secretary of Maharashtra, Takes Charge as New Chairman of MahaRERA

In a key development for Maharashtra’s real estate sector, Mr. Manoj Saunik, former Chief Secretary (CS) of Maharashtra, has been appointed as the new Chairman of the Maharashtra Real Estate Regulatory Authority (MahaRERA). Mr. Saunik took charge on September 20, 2024, following the exit of Mr. Ajoy Mehta, who had been serving as the Chairman since February 2021. Mehta, a 1984 batch Indian Administrative Services (IAS) officer, completed his tenure on September 20, marking the end of his over three-year leadership of the regulatory authority. Saunik’s appointment marks a significant transition, with stakeholders expecting him to continue the momentum set by his predecessors.

Mr. Manoj Saunik’s Distinguished Career

Mr. Manoj Saunik’s career has been diverse and distinguished. A 1987 batch IAS officer, he has held various high-ranking administrative positions in Maharashtra over his career, most notably serving as the state’s Chief Secretary. After retiring from this position in December 2023, he continued to offer his expertise as the Principal Advisor to the Maharashtra Chief Minister, Eknath Shinde. Saunik also brings a unique background, having previously worked as a journalist before joining the Indian Administrative Services. His wealth of experience in public administration and governance makes him a well-suited candidate to head MahaRERA, an organization that plays a pivotal role in regulating and promoting transparency within the real estate sector.

Key Reforms Under Mr. Ajoy Mehta's Leadership

Mr. Ajoy Mehta's tenure as Chairman of MahaRERA was marked by significant reforms aimed at enhancing transparency and protecting consumer interests. He introduced standardized formats for agreements and allotment letters to reduce ambiguities, established a control room and grievance redressal cell for easier dispute resolution, and implemented a system requiring developers to maintain separate escrow accounts for each project to prevent fund diversion. A notable regulatory change under his leadership was the July 2024 mandate that developers must specify delivery dates for amenities in sale agreements, ensuring greater protection for homebuyers facing delays in promised facilities.

Challenges Ahead for Mr. Manoj Saunik

As Mr. Saunik takes over as the new Chairman, he inherits a regulatory body that has made significant progress in recent years but continues to face challenges. The real estate sector in Maharashtra remains a dynamic and rapidly growing market, with increasing demand for residential and commercial properties. However, the sector also faces issues related to project delays, regulatory hurdles, and complaints from homebuyers regarding incomplete or substandard projects. his experience in administration, combined with his understanding of governance, positions him to lead MahaRERA through these challenges and to build on the reforms introduced by his predecessors.

Looking Forward:

Looking ahead, it is expected that Mr. Saunik will focus on strengthening the enforcement of existing regulations, ensuring that developers adhere to project timelines, and continuing to enhance transparency in the sector. With over 17,000 unresolved complaints still pending, resolving these issues and providing timely justice to homebuyers will likely be a priority for the new Chairman. Moreover, Saunik’s leadership could bring new reforms to further safeguard the interests of homebuyers and streamline the process of project registrations and approvals.