MahaRERA Mandates Builders' Bank Details

03 Apr 2024 CW Team

MahaRERA (Maharashtra Real Estate Regulatory Authority) is set to enforce a new mandate requiring builders to disclose their bank account details in recovery warrants. This initiative aims to streamline the process of recovering dues from developers, enhancing transparency and efficiency in real estate transactions.

The inclusion of builders' bank details in recovery warrants will facilitate smoother and faster recovery procedures for homebuyers and other stakeholders. It will enable authorities to directly access builders' accounts for recovering outstanding payments or penalties, ensuring timely resolution of disputes and grievances.

The move by MahaRERA underscores its commitment to strengthening consumer protection measures and promoting accountability in the real estate sector. By mandating the disclosure of bank information, the authority seeks to empower homebuyers and uphold their rights in dealings with developers.

The implementation of this mandate is expected to instill greater confidence among homebuyers and investors in the real estate market. It reinforces MahaRERA's role as a regulatory watchdog, safeguarding the interests of consumers and fostering a more transparent and fair marketplace.

As MahaRERA moves forward with enforcing the disclosure of builders' bank details, stakeholders anticipate improved compliance with regulatory requirements and enhanced accountability among developers. The initiative is poised to bring about positive changes in the real estate ecosystem, promoting trust and reliability in transactions and contributing to the overall growth and stability of the sector.

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..