The Maharashtra Real Estate Regulatory Authority (MahaRERA) has given the public a 30-day window to file objections against the deregistration applications made by prominent developers like Lodha Group and K Raheja Corp.
Real EstateDeregistrationMahareraMaharashtraLodha GroupReal Estate MaharashtraNov 21, 2024
MahaRERA, or the Maharashtra Real Estate Regulatory Authority, is the regulatory body established under the Real Estate (Regulation and Development) Act, 2016. It is responsible for registering real estate projects, ensuring transparency, and taking action against non-compliance.
Lodha Group and K Raheja Corp are facing deregistration due to alleged non-compliance with regulatory norms. MahaRERA has allowed a 30-day period for the public to file objections against the deregistration applications.
The 30-day period is for the public to file objections against the deregistration applications made by real estate developers like Lodha Group and K Raheja Corp. This is to ensure that all stakeholders have a voice in the process.
Deregistration can have significant implications for developers, including loss of business, legal challenges, and a negative impact on their reputation. Homebuyers and financial institutions may also be affected.
Homebuyers can participate in the deregistration process by filing objections within the 30-day period. They can provide information, concerns, or evidence related to the developers' compliance with regulatory norms.
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