480 real estate projects to e fined Rs. 50,000 each by MahaRERA
Maharashtra Real Estate Authority decided to fine the real estate projects registered on the Maharashtra Real Estate Regulatory Authority (MahaRera) online portal after the deadline of July 31 midnight with Rs 50,000 each. MahaRera chairperson Gautam Chatterjee held a meeting with member Vijay Satbir Singh, and secretary Vasant Prabhu and decided to impose the penalty on promoters who registered their real estate projects after the deadline.
“Over 480 real estate projects were registered on the online portal after midnight. The authority today decided to impose the penalty on each of these projects which registered on August 1 and August 2,” MahaRera secretary Vasant Prabhu told media.
A total of 1,0542 real estate projects and 7,525 real estate agents were registered on the portal by the stroke of midnight on July 31. Mumbai and Pune had the highest number of registrations, with Mumbai Suburban registering more than 2,097 projects, and Mumbai City with 567 projects. Pune logged in more than 2,908 projects; Thane 1,529; Raigad 994; Palghar 698; and Nashik 427.