Maharashtra to crack whip in enforcing MahaRera rules

21 Dec 2022 CW Team

Five years after the Maharashtra Real Estate Regulatory Authority (MahaRera) came into existence, it has been found that while 34,398 housing projects worth Rs 11.5 trillion have been registered, 2,800 projects worth Rs 900 billion have lapsed. A reported quoted a high-ranking bureaucrat as saying that for MahaRera, led by IAS officer Ajoy Mehta, the top priority, and the biggest challenge, would be to revive the lapsed projects without undue loss of time and ensure that justice is done to home buyers.

鈥淲ork at MahaRera has gained huge momentum and stringent measures have been taken against errant builders. The law will now be implemented in letter and spirit,鈥� the bureaucrat said.

MahaRera chief Mehta reportedly found that though there were legal provisions for the completion of projects, many builders did not adhere to deadlines, nor did they seek an extension.

鈥淢ahaRera has identified all such builders who have not completed their projects on schedule or submitted an application seeking an extension. Show cause notices have been served on them and an explanation sought within 30 days. Once we get their response, we will decide the future course of action,鈥� a high-ranking bureaucrat said. Reviving lapsed projects was the agency's target, he added.

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