Browsing Tag

RERA enforcement

4 posts
In a key ruling, MahaRERA held that even when an Agreement for Sale is silent on the possession date, the builder must hand over the flat within a reasonable period of three years from the agreement date — failing which, interest is payable for the delay period. The order in the Mauli Omkar project case awarded interest from March 2019 to April 2023 to complainant Sabirali Tufhel Shaikh.

MahaRERA Orders ₹724 Crore Recovery from Builders, Just One-Third of Amount Reached Homebuyers

MahaRERA has issued recovery warrants worth ₹724 crore against builders across Maharashtra, but only one-third of the amount has been recovered so far. Mumbai Suburban and Pune account for the largest unpaid dues, raising concerns over weak enforcement.
In a key ruling, MahaRERA held that even when an Agreement for Sale is silent on the possession date, the builder must hand over the flat within a reasonable period of three years from the agreement date — failing which, interest is payable for the delay period. The order in the Mauli Omkar project case awarded interest from March 2019 to April 2023 to complainant Sabirali Tufhel Shaikh.

Developer Faces Property Attachment for Ignoring MahaRERA Payment Order

In a major win for homebuyers, the Mumbai Collector has issued a notice to attach and auction the properties of Desai Residency Pvt. Ltd. for ignoring a MahaRERA compensation order. Under Section 267 of the Maharashtra Land Revenue Code, authorities can seize movable and immovable assets to recover over ₹42 lakh in dues.
In a key ruling, MahaRERA held that even when an Agreement for Sale is silent on the possession date, the builder must hand over the flat within a reasonable period of three years from the agreement date — failing which, interest is payable for the delay period. The order in the Mauli Omkar project case awarded interest from March 2019 to April 2023 to complainant Sabirali Tufhel Shaikh.

MahaRERA Appoints Revenue Recovery Officers to Enforce Builder Penalties, Boosting Homebuyer Protection

In a major relief for homebuyers, the Maharashtra government has appointed dedicated Revenue Recovery Officers to enforce MahaRERA orders against defaulting builders. This decision enables faster recovery of penalties and compensation, providing long-overdue justice to affected buyers in stalled or delayed projects.
Mumbai

Mumbai’s Real Estate Boom: A Developer’s Perspective on Rising Property Registrations

Mumbai’s real estate market is booming, with record property registrations fueled by favorable government policies, evolving buyer preferences, and strategic developer initiatives. In Q3 2024, the Mumbai Metropolitan Region (MMR) captured 32% of India’s total real estate market share, driven by strong demand for mid-income and affordable housing in suburban areas like Thane, Navi Mumbai, and Panvel. Developers are adapting by offering attractive festive discounts, virtual property tours, and focusing on modern amenities and improved connectivity to meet the changing needs of homebuyers.