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.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..