{"id":525,"date":"2022-12-20T12:30:52","date_gmt":"2022-12-20T12:30:52","guid":{"rendered":"https:\/\/www.nginx.yourhomekart.in\/news\/?p=525"},"modified":"2023-01-04T06:33:04","modified_gmt":"2023-01-04T06:33:04","slug":"rs-90000-crores-worth-of-projects-discontinued-in-five-years-of-maharera","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/news\/rs-90000-crores-worth-of-projects-discontinued-in-five-years-of-maharera\/","title":{"rendered":"Rs. 90,000 Crores Worth Of Projects Discontinued In Five Years Of MahaRERA"},"content":{"rendered":"

A high-positioned bureaucrat clarified to TOI that \u201cFor MahaRERA which was led by Ajoy Mehta, a veteran IAS Officer, the significant and biggest challenge was to start the discontinued projects and to provide justice to home buyers.<\/span><\/p>\n

MahaRERA\u2019s work has taken a huge step towards taking strict action on errant builders. The law states the time-bound for every project. So, for that significant and needed actions will be taken over them.\u201d<\/span><\/p>\n

Significant Actions and steps after builders reply to MahaRERA official notices.\u00a0<\/b><\/p>\n

Maha RERA\u2019s Chief came to know that there were legal guidelines for the completion of projects and many builders didn\u2019t even follow the deadlines and not even they tried to seek extensions for that.<\/span><\/p>\n

A bureaucrat told \u201cMahaRERA took a look at all the builders who failed to complete their project on the scheduled time and not even they seek an extension to complete it. As per the rule of the MahaRERA Act, the builders were served a show-cause notice and asked for an explanation within 30 days. Once we receive a response from them, we will look at which actions to take over them.\u201d<\/span><\/p>\n

As per the sources, 2800 discontinued projects were planned to have 2.3 lakh flats. Whereas the initial payments were already made for almost 1.3 lakh flats, and 1 lakh flats were booked but no payments were done to the developer. <\/span><\/p>\n

There were a countable number of projects where builders didn\u2019t even seek extensions after project registration. And in this process homebuyers are suffering as they lost their invested money.<\/span><\/p>\n

The official said \u201cIt is clear that mobilized funds for a respective project will be used for that particular project. But, we noticed that several builders even violated these rules at the cost of home buyers.\u201d<\/span><\/p>\n

After Maha RERA came into rule, under-construction projects which didn\u2019t receive an occupation certificate (OC) has to register with the information of the action plan and resource mobilization.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

A high-positioned bureaucrat clarified to TOI that \u201cFor MahaRERA which was led by Ajoy Mehta, a veteran IAS Officer, the significant and biggest challenge was to start the discontinued projects and to provide justice to home buyers. MahaRERA\u2019s work has taken a huge step towards taking strict action on errant builders. The law states the […]<\/p>\n","protected":false},"author":2,"featured_media":742,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[57,64,73,58],"class_list":["post-525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rera","tag-maharera","tag-real-estate","tag-real-estate-updates","tag-rera"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/comments?post=525"}],"version-history":[{"count":0,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media\/742"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media?parent=525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/categories?post=525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/tags?post=525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}