Realty projects stuck due to missing MahaRERA updates

16 Aug 2023 CW Team

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.

Infrastructure Urban

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