MahaRERA asks buyers to take over redevelopment project stalled for four years
MahaRera has come to the rescue of homebuyers whose investments were stuck in a stalled 17-storey building in Kandivli (west), asking them to take over the redevelopment project.
The builder abandoned the project in 2016 after accepting the booking amount from the buyers and constructing only the skeleton of the structure till the sixth floor.
A group of homebuyers, worried that the builder, Jayant Mehta, had not even executed sale agreements with them, approached the state real estate regulatory authority last year. On January 21, MahaRera member Vijay Satbir Singh passed an order asking the complainants to explore the possibility of reviving and completing the project on their own.