MahaRERA chairperson Gautam Chatterjee, recently revealed that the state regulator had received 30 complaints so far, on which the hearing process had started. “These complaints mainly pertain to delays in project completion,” Chatterjee said, at an event organised by FICCI and Grant Thornton.
The regulator had so far received over 12,700 applications, out of which around 8,000 had been registered and the registration for the remaining would be completed in the next 6-7 days, Chatterjee said. “Till July 28, 2017, we had received only 1,500 applications. However, after giving the extensions as per the provisions of the Act, we have received over 12,700 applications. We will not allow any further extension. We will take stern action against those who fail to register their projects before August 31, 2017,” he said. Of the over 12,700 applications, Chatterjee informed that around 500 were of new launches.
While addressing the gathering, he said there is a huge demand-supply mismatch in the affordable segment and private players need to develop projects for the economically weaker section and low and middle-income groups. “State housing authorities across the country, cannot create housing stock to meet this huge demand. To bridge the gap, private players will have to come forward and develop housing stock for these sections of the society,” he said. Chatterjee further added that the central and the state governments are offering various incentives and subsidies for such development, so developers should take advantage of this.