Maharashtra RERA Orders Deregistration of Godrej Alive Projects Amidst Disputes
Maharashtra Real Estate Regulatory Authority directs deregistration of Godrej Alive A, B, C, and E projects despite objections from Godrej Properties Ltd.
Maharashtra ReraGodrej Properties LtdDeregistrationReal EstateHomebuyersReal EstateAug 18, 2024
The deregistration application was filed by the builder, Modella Textile Industries Limited, which claimed that all 107 homebuyers across the four projects had been refunded and their claims settled. Additionally, all accounts with the landowner had also been settled.
However, Godrej Properties Ltd opposed the deregistration, stating that they were not only the development manager but also registered as promoters on the MahaRERA website. They also claimed to be allottees/homebuyers for around 100 flats, and their rights as homebuyers needed to be addressed before deregistration.
Godrej further argued that as per MahaRERA circular No. 42 of 2023, homebuyers must be fully settled before deregistration can be approved. In this case, Godrej's claims as a homebuyer had not been fully resolved, and the money they received was accepted under protest.
The Authority observed that its role in a deregistration application is to stop managing the projects, protect the homebuyers' interest, and allow the builder to use the land effectively. However, it cannot decide on disputes between builders, as these are governed by contracts between them.
The Authority also noted that it has no jurisdiction to examine the contracts binding the builder and development manager or to address issues regarding their settlements, as these matters will be handled according to the contractual agreements and NCLT orders.
Despite Godrej's objections, the Authority deregistered the Godrej Alive A, B, C, and E projects, directing the builder not to advertise, market, book, sell, or offer for sale any flats in the project.
About Godrej Properties Ltd:
Godrej Properties Ltd is a leading real estate developer in India, known for its commitment to innovation, sustainability, and customer satisfaction.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) was established under the Real Estate (Regulation and Development) Act, 2016, to regulate and promote the real estate sector in the state of Maharashtra.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is a statutory body established to regulate and promote the real estate sector in the state of Maharashtra. Its primary objective is to protect the interests of homebuyers and promote transparency and accountability in the real estate industry.
Frequently Asked Questions
What is the Maharashtra Real Estate Regulatory Authority (MahaRERA)?
MahaRERA is a statutory body established to regulate and promote the real estate sector in the state of Maharashtra.
What is the main objective of MahaRERA?
The primary objective of MahaRERA is to protect the interests of homebuyers and promote transparency and accountability in the real estate industry.
What is deregistration in the context of real estate projects?
Deregistration refers to the process of removing a real estate project from the regulatory authority's records, effectively stopping the project's development and sales.
Why did Godrej Properties Ltd oppose the deregistration of the Godrej Alive projects?
Godrej Properties Ltd opposed the deregistration as they claimed to be allottees/homebuyers for around 100 flats and their rights as homebuyers needed to be addressed before deregistration.
What is the significance of MahaRERA circular No. 42 of 2023 in this case?
The circular states that homebuyers must be fully settled before deregistration can be approved, which was not the case with Godrej Properties Ltd's claims.
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