Developers can now cancel the registration of a project that has zero registration and has not started work due to some technical-financial difficulties. MahaRERA has taken a decision in this regard. Registration can be cancelled by following the procedure laid down by MahaRERA. So this will be a big relief for such developers.
Many developers take up new housing projects under the RERA Act. Developers register as registration is mandatory under the RERA Act. After registration it is mandatory to complete the project within the specified time. Also, it is necessary to upload the project details on the website every three months. However, the number of projects that do not comply with any of these provisions of MahaRERA is large. More than 19,000 projects have been found to have violated the RERA Act. Not a single house in some projects has been sold and the work has not even started.
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The project could not be started due to financial difficulties. As the project has become unviable, the information is not updated or extended by the developers after three months. In that case, the MahaRERA registration of this project is not beneficial to the developers or anyone. In this background, MahaRERA has decided to settle such cases by cancelling the registration of such projects.
According to this decision, a procedure will be laid down to cancel the registration of such projects. It is said that this will remove the big problem of the developers and they will get a big relief. However, if there is any complaint against the concerned developer or project while cancelling this registration, the complainant will also be heard first.
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