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.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: [email protected]
Related Posts
563 builders get MahaRERA notice over failure to give project update.
Non-display of registration numbers: MahaRERA pulls up 197 builders.
MahaRERA issues final deadline for agents to get competency certificate.
Maharashtra extends project completion deadlines by 9 months.
Non-display of registration numbers: MahaRERA fines 12 builders.
How to remove promoter/project name from MahaRERA NCLT list?.
