Due to delays in project handovers, the Maharashtra RERA has decided to halt the banking transactions, advertisements, marketing, registration, and sales of 1,750 real estate projects. It has temporarily suspended the registration of these projects. Among these, 761 projects are in the Mumbai Metropolitan Region, while 628 projects are in Pune. Additionally, Maharashtra RERA has initiated actions to temporarily suspend another 1,137 real estate projects.
The authority has made it clear that no banking transactions, advertisements, marketing, registration, or sales activities are allowed for these projects. It also advised buyers to be cautious when investing in these projects. According to RERA regulations, all details of a project from start to completion must be made available to buyers. MahaRERA is strictly enforcing this rule, and to ensure compliance, it has set up a dedicated compliance cell to thoroughly review all projects. Consequently, it has decided to suspend the registration of 1,750 projects due to delays in handovers.
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