MahaRERA takes action against 21 developers
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken suo moto action against 21 real estate developers who have not renewed their Real Estate (Regulation & Development) Act (RERA) registration, and directed them to submit the list of buyers who have booked flats in their project under Section 7 and 8 of RERA for further action.
The provisions of Section 7 and 8 of RERA enable home buyers of a project to form an Association of Allottees (AoA) and take control of the project. The association can then revoke the registration of the promoter, and work with a MahaRERA-appointed resolution panel to complete the remaining work and give possession to the buyers.
Despite summoning the promoters and in some cases the chartered accountants and architects of the projects when they remained absent, MahaRERA chairperson Gautam Chatterjee issued ex-parte orders asking the promoters to hand over the list of buyers so that further action under Section 7 and 8 could be taken.
Most of these promoters had their RERA registration lapsed in 2017 or 2018 and they had not submitted the statutory forms required under RERA provisions. Many of them are redevelopment projects. There were no online complaints lodged against them either. Hence MahaRERA took suo moto action for the first time against a large group of promoters.