After show cause notice, 700 real estate developers furnish project completion data to MahaRERA
MahaRERA issued as many as 19,539 show cause notices to errant real estate developers giving them a 30-day deadline to complete compliance else face penal action
For the first time in the history of MahaRERA, as many as 700 real estate developers have furnished their project completion details and other mandatory information on its website after getting a rap on the knuckles from the real estate regulatory authority.
According to MahaRERA guidelines, it is obligatory for real estate developers to release project completion details online every three months. The urban development department (UDD) had recently issued a government resolution (GR) instructing all local authorities including town planning to upload and display commencement certificates, occupancy certificates, and other details of real estate projects on the MahaRERA website in addition to informing the authority about project sanction details. The UDD had also directed local planning authorities to integrate their websites with the MahaRERA website by March 31. During an internal investigation, the MahaRERA found that information on nearly 19,000 real estate projects had not been uploaded on its website. Following this dereliction of duty, the MahaRERA issued as many as 19,539 show cause notices to errant real estate developers giving them a 30-day deadline to complete compliance else face penal action. The MahaRERA appealed real estate developers that by furnishing details publicly, they would gain more credibility in the eyes of buyers apart from helping boost the prospects of the real estate sector through MahaRERA’s transparency- and public accountability- inducing initiatives. Thereafter, 700 developers uploaded their project completion details online while 705 applications for reconstruction permissions were uploaded.
MahRERA section 11 directs that the promoter shall, upon receiving his login id and password under clause (a) of sub-section (1) or sub-section (2) of section 5, create his web page on the website of the authority and enter all details of the proposed project as provided under sub-section (2) of section 4 for public viewing. The details include those of registration granted by the authority; quarterly up-to-date list of number and types of apartments or plots booked; quarterly up-to-date list of number of garages booked; quarterly up-to-date list of approvals taken and approvals pending subsequent to commencement certificate; and advertisement or prospectus issued or published by the promoter mentioning prominently the website address of the authority, wherein all details of the registered project have been entered.