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Mumbai: MahaRERA Sends Notice To 261 Projects

The notices have been sent to those developers which has completed less than 40 per cent; however, the possession of the flats has been promised by December 2023.

Mumbai: MahaRERA Sends Notice To 261 Projects
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A show-cause notices has been issued to 261 projects by the Maharashtra Real Estate Regulatory Authority (MahaRERA). The notices have been sent to those developers which has completed less than 40 per cent; however, the possession of the flats has been promised by December 2023.

This development comes in order to ascertain how the developers intend to complete these projects in the next nine months.

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 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.

MahaRERA officials will try to recognise the issue for the delay and how it can be expedited. It further stated that they may also send their investigator to the sites and summon them for a hearing.

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