Maharashtra RERA blacklists 644 projects in the state
30 Jul 2021
2 Min Read
CW Team
Maharashtra Real Estate Regulatory Authority (MahaRera) has blacklisted 644 projects for delays in completion as part of a statewide crackdown on rogue builders. MahaRera has made it illegal to sell, promote, or advertise homes in those developments.
About 80% of the homes in these developments have already been sold.
Anarock Property Consultants, a real estate consultancy firm that analysed the data, discovered that 16% of the 644 projects were expected to be completed by 2017, while 84% had a deadline of 2018.
With 274 (43%) of the 644 blacklisted projects, the Mumbai Metropolitan Region (MMR) is in first place, followed by Pune with 189 (29%). The remaining 181 projects (28%) are located in Nagpur, Aurangabad, Nashik, Kolhapur, Satara, Ratnagiri, and Sangli.
The move was dubbed a constructive transfer by Anuj Puri, chairman of the consultancy firm. MahaRera's move sends a strong message to errant developers who have been repeatedly delaying projects.
亚博体育官网首页buyers have been waiting for possession since 2017 and 2018, Puri told the media that, adding that each of these projects was built by local builders rather than a well-known or major developer.
Advocate Vinod Sampat told the media that it was now up to the flat owners to make a decision. Owners of flats must band together and decide on the project's future. They have the option to hire a new developer.
MahaRera has registered 29,884 real estate projects since its inception on May 1, 2017, with 7,245 of them completed.
Also read: SC rules against unauthorised constructions in Aravali forest
Also read: DTCP razes two illegal colonies in Gurugram
Maharashtra Real Estate Regulatory Authority (MahaRera) has blacklisted 644 projects for delays in completion as part of a statewide crackdown on rogue builders. MahaRera has made it illegal to sell, promote, or advertise homes in those developments.
About 80% of the homes in these developments have already been sold.
Anarock Property Consultants, a real estate consultancy firm that analysed the data, discovered that 16% of the 644 projects were expected to be completed by 2017, while 84% had a deadline of 2018.
With 274 (43%) of the 644 blacklisted projects, the Mumbai Metropolitan Region (MMR) is in first place, followed by Pune with 189 (29%). The remaining 181 projects (28%) are located in Nagpur, Aurangabad, Nashik, Kolhapur, Satara, Ratnagiri, and Sangli.
The move was dubbed a constructive transfer by Anuj Puri, chairman of the consultancy firm. MahaRera's move sends a strong message to errant developers who have been repeatedly delaying projects.
亚博体育官网首页buyers have been waiting for possession since 2017 and 2018, Puri told the media that, adding that each of these projects was built by local builders rather than a well-known or major developer.
Advocate Vinod Sampat told the media that it was now up to the flat owners to make a decision. Owners of flats must band together and decide on the project's future. They have the option to hire a new developer.
MahaRera has registered 29,884 real estate projects since its inception on May 1, 2017, with 7,245 of them completed.
Image Source
Also read: SC rules against unauthorised constructions in Aravali forest
Also read: DTCP razes two illegal colonies in Gurugram
Next Story
Avinashi Flyover: Huge Iron Span to be Placed Over Railway Overbridge
A senior official from the Special Project Wing explained that a concrete deck of such length was not practical across active railway lines. Therefore, the department had decided to opt for a specially fabricated iron span.With the span now ready, its installation is awaiting railway clearance. The Salem Division of Southern Railway has already given its approval, while the final clearance is still pending from the Southern Railway headquarters in Chennai. For the installation process, railway operations under the ROB will need to be suspended for at least five days.The official also mentioned..
Next Story
Inox Green Energy Signs Deals to Provide O&M for 285 MWp Solar Projects
Inox Green Energy Services announced that it had signed agreements to provide operations and maintenance (O&M) services for 285 MWp of solar projects belonging to two leading renewable energy companies.According to a company statement, this agreement has increased Inox Green鈥檚 solar O\&M portfolio to 1 GW within just one month of entering the segment.The projects are spread across multiple sites owned by the aforementioned companies, though Inox Green Energy did not disclose their names.SK Mathu Sudhana, CEO of Inox Green, stated that the company continues to rapidly add solar assets..
Next Story
DFCCIL Installs Longest Rail Flyover Girder at Kalamboli in Key Feat
Demonstrating India's advancing engineering capabilities and its dedication to modernizing freight mobility, the Dedicated Freight Corridor Corporation of India Limited (DFCCIL) has successfully completed the installation of its longest rail flyover girder at Kalamboli. This milestone, situated on the Jawaharlal Nehru Port Trust (JNPT)鈥揘ilje section of the Western Dedicated Freight Corridor (WDFC), represents a significant achievement in the nation鈥檚 infrastructure development.The open web steel girder, measuring an impressive 110.5 meters in length and weighing approximately 1,500 tons, i..
