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Panels setup by MAHARERA to revive the stuck realty projects

Dated on: Wednesday 31st July 2019

In order to fulfill the prime objective of the RERA Act, 2016 to give relief to all the stakeholders associated with the project, the MAHARERA has created unique resolution panels comprising of Consumer representative and a Developer representative. The panel will interact with banks, homebuyers, and builders who could potentially take over the project to complete it on time. With the motive to protect the consumers from the loss of decreasing prices of property which could be held under the right given in IBC rules a mid-way has been found by creating these panels.

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