Real Estate

Real Estate Transactions

MahaRERA flags 1,824 housing projects across state as 'expired'

Economic Times  

As many as 1,824 housing projects in Maharashtra have been declared as “expired” for overshooting completion deadlines set by the Maharashtra Real Estate Regulatory Authority (MahaRERA). The projects would now need consent from 51% buyers for securing extension of the respective completion dates. There are 103 such projects that exceeded the deadline in 2017, 541 in the following year and 1,180 in 2019. Many of the projects had failed to complete even after extension of one year as per Section 6 of the Real Estate (Regulation and Development) Act.