MahaRERA bid to revive projects

26 Jul 2022 CW Team

MahaRERA is attempting to resurrect over 2,800 delayed and expired housing projects in the state, totaling Rs 786.84 billion. The Maharashtra Real Estate Regulatory Authority (MahaRERA) is working with a specialised team to uncover the issues that are causing projects to be stopped or expired in order to discover solutions for their resurrection. To investigate blocked and expired projects, MahaRERA has established a special vertical managed by retired IAS officer Sanjay Deshmukh, as per reports. The first part of the exercise will analyse 2,809 expired projects for their construction phase. MahaRERA has divided the building process into three categories: 0 to 30 percent, 30 to 60 per cent, and 60 to 90 per cent, and has worked with developer bodies to discover builders who are registered with them in order to assure the revival and completion of projects.

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