Registration: Maharera Slaps Sale & Ad Bar On 388 Projects In State | Pune News
Pune: MahaRERA on Monday said developers of 388 housing projects in the state, including 89 in the district, could not go ahead with sale transactions and advertise for flats in the schemes till further notice.
Maharashtra Real Estate Regulatory Authority (MahaRERA) stated in an order that it has kept in abeyance registration of the projects over the failure of the developers concerned to submit the mandatory quarterly reports. Of the 388 projects for which the reports have not been submitted, Pune district leads the tally, followed by Nashik (53) and Nagpur (41).
These projects were among the 746 registered in January this year. The developers were supposed to submit the project reports to MahaRERA by the end of April. The quarterly progress report is supposed to have details such as the number of apartments booked, amounts received, the cost incurred, change in building plans or sanctions received, allottees, and list of approvals obtained. Of the 746 registered projects, 358 developers submitted the report. The rest did not respond to the showcause notices, following which MahaRera decided to keep their registration process in abeyance, an official said. A period of 15 days, followed by another 45 days, had been given to the developers to respond to the notices. If the developers fail to adhere to the quarterly compliances, MahaRera can cancel project registration, suspend construction and new bookings and also freeze the bank accounts.
“We have prepared the list and it has been sent to the registration department officials to ensure that no flat of these (388) projects gets registered. The developers cannot also carry out any promotion or advertisments of these projects,” a MahaRERA official.
MahaRERA would consider revoking the latest order if the developers concerned complied and furnished the data. However, the builders could do so only by paying penalty charges to MahaRERA with an undertaking that such non-compliances would not be repeated.
“The aim of the quarterly report is to help homebuyers get all project details on the MahaRERA website,” an official said, adding that 44,000 projects have been registered with the regulatory body in the state 2017.
Section 11 of the Real Estate (Regulation and Development) Act states that promoters needed to update the status of each project registered with MahaRera every three months on their portal.
Advocate Godfrey Pimenta from Watchdog Foundation told TOI that the de-registration of the projects was not in the interest of the allottees who have already invested in buying houses.
“The authorities should instead slap penalties on the erring developers. The penalties are already prescribed as 5% of the project cost. The imposition of penalties and recovery of the charges as arrears of land revenue will act as a deterrent,” he said.
Maharashtra Real Estate Regulatory Authority (MahaRERA) stated in an order that it has kept in abeyance registration of the projects over the failure of the developers concerned to submit the mandatory quarterly reports. Of the 388 projects for which the reports have not been submitted, Pune district leads the tally, followed by Nashik (53) and Nagpur (41).
These projects were among the 746 registered in January this year. The developers were supposed to submit the project reports to MahaRERA by the end of April. The quarterly progress report is supposed to have details such as the number of apartments booked, amounts received, the cost incurred, change in building plans or sanctions received, allottees, and list of approvals obtained. Of the 746 registered projects, 358 developers submitted the report. The rest did not respond to the showcause notices, following which MahaRera decided to keep their registration process in abeyance, an official said. A period of 15 days, followed by another 45 days, had been given to the developers to respond to the notices. If the developers fail to adhere to the quarterly compliances, MahaRera can cancel project registration, suspend construction and new bookings and also freeze the bank accounts.
“We have prepared the list and it has been sent to the registration department officials to ensure that no flat of these (388) projects gets registered. The developers cannot also carry out any promotion or advertisments of these projects,” a MahaRERA official.
MahaRERA would consider revoking the latest order if the developers concerned complied and furnished the data. However, the builders could do so only by paying penalty charges to MahaRERA with an undertaking that such non-compliances would not be repeated.
“The aim of the quarterly report is to help homebuyers get all project details on the MahaRERA website,” an official said, adding that 44,000 projects have been registered with the regulatory body in the state 2017.
Section 11 of the Real Estate (Regulation and Development) Act states that promoters needed to update the status of each project registered with MahaRera every three months on their portal.
Advocate Godfrey Pimenta from Watchdog Foundation told TOI that the de-registration of the projects was not in the interest of the allottees who have already invested in buying houses.
“The authorities should instead slap penalties on the erring developers. The penalties are already prescribed as 5% of the project cost. The imposition of penalties and recovery of the charges as arrears of land revenue will act as a deterrent,” he said.
