The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued showcause notices to developers of 261 projects in the state for completing only 40% of the construction despite the possession deadline of December 2023.
According to MahaRERA, as many as 26,178 flats have been registered in these projects out of a total of 45,539 flats. In the showcause notice, the MahaRERA has asked the developers how they plan to complete the remaining construction and other works in just nine months. The notices, emailed to the developers, mention a deadline of 15 days for them to file their replies.
MahaRERA is the only body in the country that has developed a project monitoring system. The authority conducts close monitoring of registered housing projects. It is during this process that the officials came across the anomalies in 261 residential projects across the state.
Of these 261 projects, 53 are less than 10% complete; 44 are 10-20% ready; in 60 projects, work is 20-30% done and the balance of 104 projects are in the range of 30-40% completion. The list includes 26 in Mumbai city, 94 in suburban Mumbai, 43 in Thane, 67 in Pune, 15 in Raigad, six in Palghar, three in Nagpur, two in Nashik, and one each in Satara, Kolhapur, Amravati, Aurangabad and Dadra Nagar Haveli areas.
The authority recently initiated suo moto action against reality developers for advertising housing projects without a MahaRERA registration number. MahaRERA issued showcause notices to 14 projects after taking note of advertisements published by these developers without a registration number.
The authority sought replies from the project developers within seven days. A notification from the state real estate regulator said the project developers have to give suitable replies within the prescribed time or face penal action.
MahaRERA has held real estate developers accountable by making it mandatory to register their projects and taking action against them for flouting the rules. It has made it clear that without quoting the MahaRERA registration number, no developer can advertise or market their projects.
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