By Varun Singh

Maharashtra Real Estate Regulatory Authority (MahaRERA) has revoked the registration of total 8 projects.

Of these 8 projects MahaRERA revoked the registration of 4 projects in the month of September.

Of these 4 projects, one project lost its registration of September 14, the other one’s registration was revoked by MahaRERA on September 24, whereas the remaining two were declared Ab Initio Void on September 28.

While we give your details of the 8 projects, one should know why registration is important.

According to RERA a developer before selling any flat within Maharashtra has to register their project with MahaRERA.

This is to bring transparency, and accountability on the part of the developer.

The developer during registration has to mention all details fo the projects he’s carrying out. This even included completion date.

If the developer fails to delivery the apartment on or before the date of completion MahaRERA has the powers to levy a fine along with interest.

The 8 projects are

1. Mithanagar Archana CHS LTD. of which promoter is Dhanashree Developers
2. DSK Sadaphuli of which promoter is DSKulkarni Company
3. DSK Sadaphuli of which promoter is DSK Worldman Projects LTD
4. Laaffaires Avenue Commercial and Laflor Residency Commercial of which promoter is SSV Realtors
5. Sai Developers and Builders of which promoter is Shirsagar Yadav
6. Ganeshwadi CHS LTD-SRA, of which promoter is Ashok Gupta
7. Rite Civis of which promoter is Yashodanand Developers
8. Hariom Vikla of which promoter is Mageshkumar Shah

These are the 8 projects which lost their registration. The last 4 that is from 5-8 lost their registration in the month of September 2021.

So if you are a homebuyer and have invested then please check whether you have invested in these projects.

Home buying a lifetime experience and people invest their lifetime savings in it.

However, there are umpteen examples where homebuyers have ended up suffering because of the developers.

The government came out with regulations that can help homebuyers and RERA is one such.

Projects without MahaRERA registration are not allowed to sell, advertise or market in the state and these 8 projects now fall in this category.

Also Read: MahaRERA Gifts one more extension to Developers

The post Hope You haven’t bought a Flat in these 8 Projects, MahaRERA has Revoked their Registration appeared first on Square Feat India.

By Varun Singh

Maharashtra Real Estate Regulatory Authority (MahaRERA) has revoked the registration of five projects that were registered with the housing authority.

According to data accessed by SquareFeatIndia MahaRERA using its powers to safeguard the interest of homebuyers has acted. against five projects.

The authority in the case of these five projects has revoked their registration. or made them Ab Initio Void.

The five. projects are spread across Mumbai and Pune. The names of all the five projects have been published by MahaRERA on it website and can be read here.

Adv Sunnil Kewalramani, said, “MahaRERA is not a toothless tiger. It has wide powers under Section 7 of RERA Act for Revocation of project registration. This revocation of project by MahaRERA will have a deterrent effect on Developers, who do not comply with the provisions of RERA Act and Maharashtra Rules made there under.”

What is Section 7 of RERA?

Section 7 of the Act reads as thus: Revocation of registration
(1) The Authority may, on receipt of a complaint or suo motu in this behalf or on the recommendation of the competent authority, revoke the registration granted under section 5, after being satisfied that—
(a) the promoter makes default in doing anything required by or under this Act or the rules or the regulations made thereunder;
(b) the promoter violates any of the terms or conditions of the approval given by the competent authority;
(c) the promoter is involved in any kind of unfair practice or irregularities.

Explanation —For the purposes of this clause, the term “unfair practice means” a practice which, for the purpose of promoting the sale or development of any real estate project adopts any unfair method or unfair or deceptive practice including any of the following practices, namely: —

(A) the practice of making any statement, whether in writing or by visible representation which, —
(i) falsely represents that the services are of a particular standard or grade;
(ii) (ii) represents that the promoter has approval or affiliation which such promoter does
not have;
(iii) (iii) makes a false or misleading representation concerning the services;

(B) the promoter permits the publication of any advertisement or prospectus whether in any newspaper or otherwise of services that are not intended to be offered;
(d) the promoter indulges in any fraudulent practices.

(2) The registration granted to the promoter under section 5 shall not be revoked unless the Authority has given to the promoter not less than thirty days’ notice, in writing, stating the grounds on which it is proposed to revoke the registraton, and has considered any cause shown by the promoter within the period of that notice against the proposed revocation.

(3) The Authority may, instead of revoking the registration under sub-section (1), permit it to remain in force subject to such further terms and conditions as it thinks fit to impose in the interest of the allottees, and any such terms and conditions so imposed shall be binding upon the promoter.

(4) The Authority, upon the revocation of the registration, —
(a) shall debar the promoter from accessing its website in relation to that project and specify his name in the list of defaulters and display his photograph on its website and also inform the other Real Estate Regulatory Authority in other States and Union territories about such revocation or registration;
(b) shall facilitate the remaining development works to be carried out in accordance with the provisions of section 8;
(c) shall direct the bank holding the project back account, specified under subclause (D) of clause (I) of sub-section (2) of section 4, to freeze the account, and thereafter take such further necessary actions, including consequent de-freezing of the said account, towards facilitating the remaining development works in accordance with the provisions of section 8;
(d) may, to protect the interest of allottees or in the public interest, issue such directions as it may deem necessary.

Also Read: Bhushan Kumar Of T-Series Paid Rs 167 Crore For Juhu Bungalow

The post MahaRERA Bites Off Registration Of 5 Projects appeared first on Square Feat India.