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MahaRERA issues notices to 261 projects with slow progress
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MahaRERA issues notices to 261 projects with slow progress
Publish on : 2023-04-03 11:13:10
The projects in all have a total of 45,539 flats, of these 26,178 flats are booked by home buyers. The MahaRERA has issued these notices only on the basis of the information submitted to it by the developers. MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued show-cause notices to 261 projects in which less than 40% of work has been completed, while the possession of the flats has been promised by December 2023. The projects in all have a total of 45,539 flats, of these 26,178 flats are booked by home buyers. The MahaRERA has issued these notices only on the basis of the information submitted to it by the developers. The regulatory authority has been scrutinising projects registered with it, as part of its monitoring exercise. The show-cause notices have been issued to the developers by MahaRERA to ascertain how the developers intend to complete these projects in the next nine months. The promoters have been given 15 days' time to respond. Of the 261 projects served notices, 26 are from Mumbai city and 94 from Mumbai suburbs, 43 from Thane, 15 from Raigad, six from Palghar and 67 from Pune. A MahaRERA official said, "We will find out what is the problem in each of the projects and how it can be expedited. The worry is that these projects can lapse. So, we want to warn them in the beginning itself. The promoters should not think that it is a free for all, they should know that we are watching them. If there is a need, we may also send our investigator to the sites and summon them for a hearing."mumab

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