亚博体育官网首页

亚博体育官网首页buyers seek compensation over developers' non-compliance
Real Estate

亚博体育官网首页buyers seek compensation over developers' non-compliance

The Forum for People's Collective Efforts (FPCE), a pan-India homebuyers' body, has sought compensation from the Maharashtra Real Estate Regulatory Authority (MahaRERA), while also raising concerns about real estate developers' failure to provide quarterly statutory project updates.

It has also demanded that the promoters of these projects be penalised for this non-compliance under Section 61 of the Real Estate (Regulation & Development) Act, 2016, which imposes a penalty of up to 5% of the estimated project cost on the defaulter.

The regulator issued notices to approximately 16,000 developers and promoters across the state last week for failing to receive satisfactory responses regarding information about their projects. MahaRERA issued show cause notices to 19,500 projects in January for failing to update the mandatory project information as required by Section 11 of the Act. This means that 3,500 notices for various projects, or roughly 18%, have since been complied with.

Also Read
PM lays the foundation stone for national projects worth Rs 109 billion
MSEDCL seeking bids for 615 MW Solar Projects in Maharashtra

The Forum for People's Collective Efforts (FPCE), a pan-India homebuyers' body, has sought compensation from the Maharashtra Real Estate Regulatory Authority (MahaRERA), while also raising concerns about real estate developers' failure to provide quarterly statutory project updates. It has also demanded that the promoters of these projects be penalised for this non-compliance under Section 61 of the Real Estate (Regulation & Development) Act, 2016, which imposes a penalty of up to 5% of the estimated project cost on the defaulter. The regulator issued notices to approximately 16,000 developers and promoters across the state last week for failing to receive satisfactory responses regarding information about their projects. MahaRERA issued show cause notices to 19,500 projects in January for failing to update the mandatory project information as required by Section 11 of the Act. This means that 3,500 notices for various projects, or roughly 18%, have since been complied with. Also Read PM lays the foundation stone for national projects worth Rs 109 billion MSEDCL seeking bids for 615 MW Solar Projects in Maharashtra

Next Story
Infrastructure Urban

ClickPost Launches Atlas to Benchmark E-commerce Logistics

ClickPost, a leading logistics intelligence platform, has launched Atlas, a subscription-based benchmarking tool designed to transform how e-commerce brands strategise logistics. Powered by ClickPost鈥檚 proprietary network, which processes over 50 million shipments each month, Atlas enables brands to benchmark key operational metrics in real time against industry peers and standards.Unlike traditional dashboards, Atlas delivers comparative insights鈥攆rom fulfilment speeds, RTO rates and average order values to city-level delivery times and sales data鈥攁llowing brands to identify operational..

Next Story
Real Estate

Kalyani Launches Two New LivingTree Towers in Bengaluru

Bengaluru-based Kalyani Developers has announced the launch of Towers 3 and 4 at its flagship residential project, Kalyani LivingTree, located in KIADB Aerospace Park. The expansion adds 525 premium 3BHK apartments, ranging from 1300 to 1600 sq ft, and over 7.5 lakh sq ft of built-up area. Prices start from Rs 1.2 crore.These towers, the most exclusive in Phase 1, offer uninterrupted pool and landscape views, and access to over 60 lifestyle amenities, two clubhouses totalling 1 lakh sq ft, and more than 80 per cent open space.LivingTree spans 25 acres and will comprise ten towers of 23鈥�24 fl..

Next Story
Infrastructure Urban

Blue Water Logistics IPO opens May 27

Hyderabad-based Blue Water Logistics is launching its Rs 40.5 crore IPO on May 27, 2025, which will remain open for subscription until May 29. The price band has been set at Rs 132 to Rs 135 per share, with a lot size of 1,000 shares. This is a book-built issue entirely comprising a fresh issue of 30 lakh equity shares. The IPO will be listed on the NSE Emerge platform.Smart Horizon Capital Advisors is the sole book-running lead manager, while Maashitla Securities will act as the registrar. The anchor book will open on May 26, 2025. The IPO allocates 8,35,000 shares to anchor investors, 1,56,0..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement