Realty projects stuck due to missing MahaRERA updates
Real Estate

Realty projects stuck due to missing MahaRERA updates

In an attempt to ensure transparency and authenticity in the real estate sector, local civic bodies and planning authorities were mandated to send commencement and occupation certificates for real estate projects to MahaRERA's dedicated email ID for verification. Despite major civic corporations adhering to this requirement, several municipal councils and town planning authorities have neglected the directive. As a consequence, the registration of approximately 160 real estate projects in the state has been left pending.

In light of past incidents involving forged civic clearance documents submitted during project registrations, MahaRERA's move was aimed at maintaining the credibility of the industry. However, the non-compliance of certain local bodies has resulted in a backlog of projects seeking registration approval. This issue has prompted concerns within the industry, with experts warning that the affected projects could face delays and developers might encounter uncertainty.

Hitesh Thakkar, Vice President of NAREDCO (National Real Estate Development Council), highlighted the divergence between major civic corporations and the non-compliant councils and authorities. The latter's failure to follow the mandated procedure not only contravenes the directives of the urban development department and the high court but also jeopardises the progress of these projects and the stability of the developers involved.

In an attempt to ensure transparency and authenticity in the real estate sector, local civic bodies and planning authorities were mandated to send commencement and occupation certificates for real estate projects to MahaRERA's dedicated email ID for verification. Despite major civic corporations adhering to this requirement, several municipal councils and town planning authorities have neglected the directive. As a consequence, the registration of approximately 160 real estate projects in the state has been left pending. In light of past incidents involving forged civic clearance documents submitted during project registrations, MahaRERA's move was aimed at maintaining the credibility of the industry. However, the non-compliance of certain local bodies has resulted in a backlog of projects seeking registration approval. This issue has prompted concerns within the industry, with experts warning that the affected projects could face delays and developers might encounter uncertainty. Hitesh Thakkar, Vice President of NAREDCO (National Real Estate Development Council), highlighted the divergence between major civic corporations and the non-compliant councils and authorities. The latter's failure to follow the mandated procedure not only contravenes the directives of the urban development department and the high court but also jeopardises the progress of these projects and the stability of the developers involved.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Ingram Micro India Earns Sixth Great Place to Work Certification

Ingram Micro India has recently received its sixth consecutive Great Place to Work® certification, recognising the company’s efforts to build a workplace culture centred on trust, collaboration and employee development.The company said the recognition reflects its continued focus on strengthening organisational culture and improving employee experience. Over the past year, Ingram Micro India has worked on employee engagement, encouraging open dialogue, building leadership capabilities and expanding learning and development opportunities.As part of its “Elevate – Soar Higher” programme..

Next Story
Infrastructure Urban

Genesys International Appoints Nikhil Alulkar as CEO

Genesys International Corporation has appointed Nikhil Alulkar as Chief Executive Officer as the geospatial technology company enters its next phase of growth across enterprise, government and international markets.Alulkar will lead company-wide operations, business execution and growth. His responsibilities will include scaling Genesys’ AI-native mapping and Digital Twin platforms, expanding its enterprise and B2B presence, strengthening government and institutional relationships, and developing the operating structure required for international expansion.The appointment comes as Genesys lo..

Next Story
Real Estate

B-Right Real Estate Targets 4.7 Mn Sq Ft Mumbai Growth by 2033

B-Right Real Estate Group has outlined plans to develop approximately 4.7 million sq ft of real estate in Mumbai by 2033 as part of its long-term Vision 2033 roadmap. The company said its expansion strategy will remain focused on Mumbai, with redevelopment-led projects forming a key part of its portfolio.Founded in 2007, B-Right Real Estate has been involved in redevelopment and Slum Rehabilitation Authority (SRA) projects across Mumbai. Its Vision 2033 strategy focuses on financial discipline, governance, design and community-oriented development as it expands its project pipeline.Founder, Ch..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement