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Maharashtra RERA Issues Notices to 11,000 Lapsed Housing Projects

Dated on: Tuesday 17th December 2024

Maharashtra's Real Estate Regulatory Authority (RERA) has issued notices to approximately 11,000 housing projects that have lapsed, instructing developers to either complete the projects or refund the homebuyers' money. These projects had been delayed or left incomplete beyond their original deadlines, leaving many consumers in limbo.

RERA is taking a strict approach to enforce transparency and accountability in the real estate sector, especially given the large number of pending projects. Developers have been given a deadline to respond to the notices. If they fail to act, RERA may take legal action, including initiating refund procedures. The move aims to ensure that homebuyers are protected and that developers adhere to the timelines established under the RERA Act. This also highlights the growing efforts of RERA to tackle delays and uphold consumer rights in the state.

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