Maharashtra to crack whip in enforcing MahaRera rules

21 Dec 2022 CW Team

Five years after the Maharashtra Real Estate Regulatory Authority (MahaRera) came into existence, it has been found that while 34,398 housing projects worth Rs 11.5 trillion have been registered, 2,800 projects worth Rs 900 billion have lapsed. A reported quoted a high-ranking bureaucrat as saying that for MahaRera, led by IAS officer Ajoy Mehta, the top priority, and the biggest challenge, would be to revive the lapsed projects without undue loss of time and ensure that justice is done to home buyers.

“Work at MahaRera has gained huge momentum and stringent measures have been taken against errant builders. The law will now be implemented in letter and spirit,” the bureaucrat said.

MahaRera chief Mehta reportedly found that though there were legal provisions for the completion of projects, many builders did not adhere to deadlines, nor did they seek an extension.

“MahaRera has identified all such builders who have not completed their projects on schedule or submitted an application seeking an extension. Show cause notices have been served on them and an explanation sought within 30 days. Once we get their response, we will decide the future course of action,” a high-ranking bureaucrat said. Reviving lapsed projects was the agency's target, he added.

Resources

04 Jun 2026

ULCCS Showcases Cooperative Model at UN Symposium

Uralungal Labour Contract Co-operative Society (ULCCS) showcased its community-led development model at the United Nations Headquarters in New York, where it participated as a panellist at the International Symposium on Cooperative Financial Institutions held on 28–29 May 2026.Jointly organised by the United Nations Department of Economic and Social Affairs (UN DESA), the International Cooperative Banking Association (ICBA), and the International Cooperative Alliance (ICA), the symposium was held under the theme ‘Fuelling Inclusive and Equitable Growth’ and brought together policymakers,..

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..