Check out market updates

MahaRERA suspends registration of 388 real estate projects for failing to place details online

MahaRERA suspends registration : Of the suspended projects, 20 were in Mumbai city limits and three belonged to Macrotech Developers.

According to MahaRERA, 746 projects were registered in January 2023, and notices were issued to those projects where necessary compliances was not done.

MahaRERA has suspended the registration of 388 projects, including three by Macrotech Developers, for non-compliance with regulations on uploading project details online. The suspension restricts further sales, marketing, or advertising, and sub-registrars are directed not to register sale agreements and deeds for these projects. Macrotech Developers’ affected projects include Bellissimo in Andheri, Crown Dombivli 1, and Lodha Panacea III. The regulator’s action aims to enforce compliance with regulatory provisions related to making project details available on its website. The suspended projects were all registered in January 2023.

*Disclaimer: Content taken from e-newspaper, article of Mehul Thakkar.

Leave a Reply

Your email address will not be published.