Under Section 11 of RERA Act, it is mandatory to upload fresh details by concerned registered project developers every three months. MahaRERA found that these developers failed to update information.
THE MAHARASHTRA Real Estate Regulatory Authority has issued a total 19,539 show cause notices to real estate project developers across Maharashtra in January 2023. The realtors who have been served the notice are among those who have registered their projects in the last five years but failed to update related information on the MahaRERA website.
Under Section 11 of RERA Act, it is mandatory to upload fresh details by concerned registered project developers every three months. MahaRERA found that these developers failed to update information.
Of the 19,539 projects, which have been issued show cause notices, only 167 developers have replied so far, and the regulatory authority is carrying out scrutiny for the same, said MahaRERA officials. As per MahaRERA, all developers are required to reply to show cause notices along with updating project details within 30 days from date of issuance of notice. Failing this, the developer is required to pay a penalty of 30% on the total project cost.
As a special deal, MahaRERA has now allowed developers, to whom show cause notices have been issued, to update project details that have not been done in the last five years, in just one go. However, developers of projects registered in 2022-23 are to continue updating project details every three months, as per MahaRERA.
The notices have been issued due to failure from uploading project related details like financial disclosures, CA certificates and architect certifications, including progress of the project on the MahaRERA website.
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