+
Haryana RERA Revokes Registrations of Mahira Infratech's Five Housing Projects
Real Estate

Haryana RERA Revokes Registrations of Mahira Infratech's Five Housing Projects

The Haryana Real Estate Regulatory Authority (RERA) has taken the decision to cancel the registrations of five housing projects belonging to Mahira Infratech. This move comes as a response to alleged violations and non-compliance with regulatory requirements by the developer.

The cancellation of registrations by Haryana RERA is a significant step aimed at ensuring accountability and safeguarding the interests of homebuyers. It underscores the authority's commitment to upholding transparency and integrity in the real estate sector.

Mahira Infratech's housing projects were found to be non-compliant with various provisions of the Real Estate (Regulation and Development) Act, 2016, as well as other regulatory guidelines. The cancellation of registrations serves as a warning to developers to adhere strictly to the norms laid down by RERA to protect the rights of homebuyers.

The decision by Haryana RERA to revoke the registrations of Mahira Infratech's projects is likely to impact the affected homebuyers, who may now seek recourse for their investments. It also sends a strong message to other developers to comply with RERA regulations to avoid similar consequences.

As Haryana RERA takes stringent action against non-compliant developers, it reinforces the authority's commitment to ensuring transparency, accountability, and consumer protection in the real estate sector. The cancellation of registrations underscores the importance of regulatory oversight in promoting fair practices and maintaining trust in the real estate market.

The Haryana Real Estate Regulatory Authority (RERA) has taken the decision to cancel the registrations of five housing projects belonging to Mahira Infratech. This move comes as a response to alleged violations and non-compliance with regulatory requirements by the developer. The cancellation of registrations by Haryana RERA is a significant step aimed at ensuring accountability and safeguarding the interests of homebuyers. It underscores the authority's commitment to upholding transparency and integrity in the real estate sector. Mahira Infratech's housing projects were found to be non-compliant with various provisions of the Real Estate (Regulation and Development) Act, 2016, as well as other regulatory guidelines. The cancellation of registrations serves as a warning to developers to adhere strictly to the norms laid down by RERA to protect the rights of homebuyers. The decision by Haryana RERA to revoke the registrations of Mahira Infratech's projects is likely to impact the affected homebuyers, who may now seek recourse for their investments. It also sends a strong message to other developers to comply with RERA regulations to avoid similar consequences. As Haryana RERA takes stringent action against non-compliant developers, it reinforces the authority's commitment to ensuring transparency, accountability, and consumer protection in the real estate sector. The cancellation of registrations underscores the importance of regulatory oversight in promoting fair practices and maintaining trust in the real estate market.

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

DGTR Proposes Anti-Dumping Duty on Aluminium

The Directorate General of Trade Remedies (DGTR) has proposed imposing an anti-dumping duty of up to Rs.577 per tonne on aluminium frames imported from China, as reported by the Economic Times. This move aims to address concerns about unfair trade practices and protect the domestic aluminium industry from the adverse effects of low-cost imports. The proposed anti-dumping duty comes in response to allegations that Chinese aluminium frames are being sold in the Indian market at prices below fair market value. Such practices are deemed harmful to domestic manufacturers, potentially leading to ma..

Next Story
Infrastructure Urban

Indian Financial System Resilient Amidst Challenges

The Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao has emphasized the robust nature of the Indian financial system despite global economic headwinds, according to Economic Times. Rao?s comments reflect confidence in the stability and resilience of India's financial sector amidst a backdrop of international economic uncertainties and financial volatility. Rao highlighted that India?s financial system is well-equipped to handle external shocks due to its solid regulatory framework and prudent risk management practices. The country?s banking sector has demonstrated resilience throug..

Talk to us?