MahaRERA Cracks Down on Non-Compliant Real Estate Projects
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken strict action against 628 real estate projects for violating regulatory norms.
MahareraReal EstateNon ComplianceRegulatory NormsReal Estate MaharashtraJul 10, 2024
The projects in question have failed to comply with various requirements, including obtaining necessary permits, providing accurate project information, and meeting deadlines. MahaRERA's move is expected to bring a sense of accountability and transparency to the real estate sector in Maharashtra.
Frequently Asked Questions
What is MahaRERA?
MahaRERA stands for Maharashtra Real Estate Regulatory Authority, a statutory body established to regulate and promote the real estate sector in Maharashtra.
Why did MahaRERA take action against 628 projects?
MahaRERA took action against 628 projects for non-compliance with regulatory norms, including failure to obtain necessary permits, provide accurate project information, and meet deadlines.
What is the goal of MahaRERA's action?
The goal of MahaRERA's action is to ensure accountability and transparency in the real estate sector, protecting the interests of homebuyers and promoting a fair and regulated market.
How will MahaRERA's action impact the real estate sector?
MahaRERA's action is expected to bring a sense of discipline and accountability to the real estate sector, promoting a culture of compliance and transparency among developers.
What can homebuyers expect from MahaRERA's action?
Homebuyers can expect greater protection and security, as MahaRERA's action aims to ensure that developers adhere to regulatory norms, providing accurate information and completing projects on time.
Related News Articles
RBI Repo Rate Cut: Top Stock Picks from SBI to Asian Paints
Following the RBI's repo rate cut, experts recommend seven stocks across various sectors, including banking, real estate, auto, and consumer durables. The move aims to boost liquidity and economic growth, despite recession fears.
Secure Your Financial Future: Essential Investment Funds in Today’s Market
With a balanced approach combining equity, debt, and real estate, this fund aims to provide stability and growth, making it an attractive choice for investors looking to navigate the current financial landscape.
Navi Mumbai's Real Estate Booms as New Airport Preps for Takeoff
With the planned operationalization of the Navi Mumbai International Airport, major real estate developers like Adani Realty, Godrej Properties, Hiranandani Group, K Raheja Corp, and Panchshil Realty are gearing up to launch a plethora of residential and commercial projects in the area.
Axis Commercial Real Estate Fund Acquires Prime Land in Chennai's Fintech City
Axis Commercial Real Estate Fund, a collaboration between Axis Asset Management Company and Tishman Speyer, has acquired a 1.5-acre land parcel in Chennai's Fintech City, marking its first investment.
Maharashtra CM Devendra Fadnavis Clarifies Cabinet Expansion Rumors
The Maharashtra Assembly Election 2024 saw a significant victory for the Bharatiya Janata Party (BJP)-led Mahayuti alliance. Chief Minister Devendra Fadnavis has since addressed the speculation surrounding potential cabinet expansion, providing clarity to
Penny Stock Under Rs 3: KBC Global Ltd Delivers Over 135 Units and Launches New Project
Penny Stock Under Rs 3: KBC Global Ltd, a leading real estate developer, has successfully handed over possession of over 135 residential and commercial units since April 2024 and is set to launch its next project in Deolali, Nashik.