MahaRERA notices to 261 projects with slow pace
1 year, 8 months ago

MahaRERA notices to 261 projects with slow pace

Hindustan Times  

MUMBAI HT Image Housing regulator MahaRERA has served show cause notices to 261 projects with completion dates of December 2023 but are less than 40 per cent complete by March, asking for explanation on how they plan to complete these in the next nine months. According to the data that emerged during the project monitoring exercise conducted by MahaRERA, 53 of these 261 projects have completed less than 10% construction, 44 projects have completed between 10 and 20% work, 60 projects have finished between 20 to 30% slabs, and 104 projects have completed 30 to 40% work. The data also revealed that in 15 projects, the developer has already spent 75-100% of the funds kept in a separate account with little work to show for it. According to Real Estate Act provisions, promoters must keep 70% of the funds collected for construction of a project in a separate bank account, and to prevent diversion of funds, the funds must be withdrawn only with adequate certification from the chartered accountant, architect, and structural engineer as the project completes slabs.

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MahaRERA issues notice to 10,773 ‘lapsed’ projects, MMR tops the list
Trending News
1 week ago

MahaRERA issues notice to 10,773 ‘lapsed’ projects, MMR tops the list

Hindustan Times  

MUMBAI: The developers of over one-fifth of projects, registered with Maharashtra Real Estate Regulatory Authority, have been issued show cause notices, as the projects have come under the “lapsed” category. MahaRERA issues notice to 10,773 ‘lapsed’ projects, MMR tops the list The notices have been issued to developers who have failed to update their project’s status and related information on …

MahaRERA issues show cause notices to around 11,000 lapsed housing projects, MMR tops the list
1 week ago

MahaRERA issues show cause notices to around 11,000 lapsed housing projects, MMR tops the list

Hindustan Times  

The Maharashtra Real Estate Regulatory Authority has initiated scrutiny of all lapsed housing projects and issued show-cause notices to around 11,000 such projects, most of which are in the Mumbai Metropolitan Region. MahaRERA has issued show-cause notices to around 11,000 lapsed housing projects, most of which are in the Mumbai Metropolitan Region. MahaRERA’s order issued in July 2022 also states …

Hasten projects in four mining-hit districts: Siddaramaiah to officials
5 months, 3 weeks ago

Hasten projects in four mining-hit districts: Siddaramaiah to officials

New Indian Express  

BENGALURU: Mining has taken a heavy toll on the infrastructure in four districts of Ballari, Vijayanagara, Chitradurga and Tumakuru and restoration projects should be completed soon, said Chief Minister Siddaramaiah, chairing a progress review meeting of the Karnataka Mines and Environment Restoration Corporation at Vidhana Soudha on Wednesday. He said that the Karnataka Mining Environment Restoration Corporation -- Comprehensive Environment …

2023 sees highest ever housing project completions in Maharashtra in six years
11 months, 1 week ago

2023 sees highest ever housing project completions in Maharashtra in six years

Hindustan Times  

Mumbai: The completions of housing projects registered with MahaRERA touched the highest ever since its inception in 2017 and nearly doubled even as the housing regulator cracked the whip and put in place stringent processes for registrations, legal and financial scrutiny in 2023. MahaRERA, the real estate regulator of Maharashtra, has put in place a three-tiered scrutiny process which ensures …

As many as 412 infra projects show cost overruns of ₹4.77 lakh crore in August: Report
1 year, 2 months ago

As many as 412 infra projects show cost overruns of ₹4.77 lakh crore in August: Report

The Hindu  

As many as 412 infrastructure projects, each entailing an investment of ₹150 crore or more, have been hit by cost overruns of more than ₹4.77 lakh crore in August this year, an official report said. According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth ₹150 crore and above, out of 1,762 projects, 412 reported cost …

MahaRERA notices to 16,000 unresponsive projects
1 year, 8 months ago

MahaRERA notices to 16,000 unresponsive projects

Hindustan Times  

MUMBAI HT Image MUMBAI: Housing regulator Maharashtra Real Estate Regulatory Authority on Wednesday said it has started serving a second showcause notice to 16,000 out of the 19,500 registered projects which have not responded to the first notice sent in January urging them to update the relevant information about their projects and its progress. It is essential that home buyers …

MahaRERA serves notice to 313 projects for discrepancies
1 year, 10 months ago

MahaRERA serves notice to 313 projects for discrepancies

Hindustan Times  

Mumbai: MahaRERA on Monday issued show cause notices to 313 large projects which were red-flagged due to discrepancies seen on their registration pages. “The discrepancies seen in the data submitted by the promoters showed, for instance, that a project had shown 75% expenditure, but the construction percentage was only 50%. Another project had a possession deadline just six months away, …

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