February 2, 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has initiated suo moto action against 41 real estate developers who advertised plots for sale without registering the project with the authority. Of the 41 promoters, 21 are from Pune, 13 from Nagpur and 7 are from the Konkan region.
These developers have violated the MahaRERA rules and have advertised for sale of non-agricultural plots in the market without getting the MahaRERA registration number.
Under Section 3 of the RERA Act, 2016, it is mandatory to register with MahaRERA to sell a plot, flat, building, etc. Sale of these are based on certain terms and conditions. Also, before the RERA registration number is obtained, no developer can advertise sale of his plots, flats or buildings.
“The Real Estate (Regulation and Development) Act, 2016 came into being to ensure safe and secure investment in the real estate sector. It is imperative to obtain a MahaRERA registration number before advertising the sale of plots, flats and buildings. It is imperative to obtain a MahaRERA registration number before advertising the sale of plots, flats and buildings. Despite this, it is a violation of law to advertise and sell plots without obtaining MahaRERA’s registration number. This is to protect the rights of investors. MahaRERA does not tolerate any irregularities in the real estate sector and this action of sending showcause notices is to protect the purchaser’s interest,” said Ajoy Mehta, Chairman, MahaRERA.
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