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“ RERA provisions make it mandatory for promoters to update Forms 1 to 3 every quarter and Form 5 annually to strengthen the hands of the consumer. Promoters are informed about these provisions when they were allocated registration numbers. Considering that they were not providing the relevant information, MahaRERA had also served notices to 19,000 projects registered since May 2017. From January 2023, we created an independent monitoring system for the Financial Quarter Based Project Progress Reporting. Despite providing ample opportunities for compliance, if promoters are not complying, MahaRERA is firm on its position that this will no longer be tolerated. This is essential for securing consumer investments in the housing development sector,
Ajoy Mehta, 2 years
Only 40 projects out of 363 comply, 141 likely to face MahaRERA heat

Statements by Ajoy Mehta

“ When advertising their new housing projects, developers often promote a variety of attractive facilities and amenities alongside the actual apartments. However, there is no mention of when the…
Ajoy Mehta, a year
MahaRERA makes it mandatory for real estate developers to mention…
“ MahaRERA is committed to building trust among home buyers by legally empowering them to ensure their investments are secured and protected. These measures will be effective from July 1 and are aimed…
Ajoy Mehta, a year
MahaRERA directs real estate developers to maintain three bank…
“ The establishment of trust in the service sector is necessary for the growth of business. So far, the construction sector has only been recognised as a product sector. Now, it has started to grow as a…
Ajoy Mehta, a year
Only 195 projects in Maharashtra have grievance redressal cells for…

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