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MahaRERA to issue notices to 18,000 developers

The Maharashtra Real Estate Regulatory Authority (MahaRERA) is set to issue show-cause notices to over 18,000 developers in the state over failure to update details of their registered projects on the MahaRERA website within the stipulated 3-month time frame. Upon receiving the notice, the developers have 1-months’ time to respond risk facing punitive action. The 18,000 projects in question are a mix of old, newly registered and lapsed projects in cities such as Mumbai, Pune, Thane and Nagpur.

Section 11 of the RERA Act 2016 mentions that information such as construction status, work completed along with periodic financial disclosures including details of the chartered accountant and architect’s certificates must be updated every quarter. Therefore, developers who register their projects with the authority must ensure they update all the information about their project on the website in a timely manner.

As of 10th January, 2,000 such notices have already been issued with the balance to be issued by the end of the month. Initially auto-generated emails were sent out once a project has surpassed the deadline for updating. However, developers did not respond to them. Therefore, the authority took a decision to issue a show-cause notice instead, forcing them to respond within the stipulated time frame or face legal action.

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