MahaRERA Cancels Four Homebuyers' Agreements in Mumbai

27 Mar 2024 CW Team

In a significant move, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has revoked agreements with four homebuyers in Mumbai due to their failure to make timely payments. This decision underscores the authority's commitment to upholding regulations and ensuring compliance within the real estate sector.

The cancellations come as a result of the buyers' inability to adhere to payment schedules outlined in their respective agreements with developers. MahaRERA's intervention highlights the importance of fulfilling financial obligations in real estate transactions and emphasises the consequences of non-compliance with regulatory mandates.

By nullifying the agreements, MahaRERA aims to uphold transparency and accountability in the housing market while safeguarding the interests of both developers and buyers. The authority's action serves as a deterrent against payment defaults and reinforces the need for adherence to contractual obligations.

The cancellation of agreements underscores the significance of financial discipline and adherence to contractual obligations in real estate transactions. MahaRERA's proactive stance reflects its commitment to maintaining a fair and transparent regulatory framework within the sector, thereby fostering trust and confidence among stakeholders.

Furthermore, the cancellations serve as a reminder to homebuyers of the importance of timely payments to avoid legal repercussions and protect their investment interests. Moving forward, MahaRERA's enforcement actions are expected to promote greater compliance and accountability within the Mumbai real estate market, contributing to its overall stability and credibility.

Technology

28 Oct 2025

Poonawalla Fincorp deploys five new AI solutions in digital drive

Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group-promoted non-banking financial company (NBFC) focused on consumer and MSME lending, has announced the launch of five new AI-powered solutions as part of its enterprise-wide digital transformation strategy. The new systems—Early Warning System (EWS), Travel Bot, RegIntel, Employee Relations (ER) Governance Tool, and AI-based Suspicious Transaction Reporting (STR)—aim to embed artificial intelligence across PFL’s core operations. This initiative goes beyond automation to create intelligent, scalable, and compliance-ready systems t..

HGS launches AI-driven Interaction Intelligence solution

Hinduja Global Solutions (HGS), listed on the BSE and NSE, has announced the launch of Interaction Intelligence—an enterprise-grade artificial intelligence (AI) solution built on the HGS Agent X framework. The platform redefines quality assurance (QA) by transforming it from a routine customer service task into a strategic capability that delivers actionable insights and deeper understanding of customer sentiment. In an era of growing customer expectations for seamless, personalised, and proactive engagement, the Interaction Intelligence solution enables enterprises to analyse nearly 100 pe..

Godrej Properties secures RERA nod for Worli luxury project

Godrej Properties Ltd (GPL), one of India’s leading real estate developers, has received project registration from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for its upcoming residential project, Godrej Trilogy, in Worli, Mumbai. The development forms part of a joint redevelopment of a prime land parcel in one of Mumbai’s most sought-after neighbourhoods. Spread across approximately 2.63 acres, the project will include three luxury towers. The total gross revenue potential of the development is estimated to exceed Rs 100 billion. Strategically located just off Dr Annie B..