Pune: About 10% of 3,371 projects called “expiration” by Maharera can obtain an extension of two weeks after the Real Estate Supervisory Authority issued orders to regulate “accustomed projects”.
The developer has been notified to submit the required documents to find extensions that allow them to continue the project.
Maharashtra Real Estate Regulatory Authority (Maharera) has issued a list of projects that expire with promoters that do not apply to extensions and also do not upload form 4 of architects on project completion on the website.
A new round released last month, putting conditions to regulate expired projects, have seen developers 99 projects that send documents.
On the other hand, 286 projects have been directed to search for extensions.
“A total of 99 projects will be deleted in the next two days of the previous 3,371 list.
The others have been told to submit an extension to the date of their occupancy certificate (OC).
Project names will be removed from the ‘expiration’ list only if the builder looks for extensions,” said Secretary Maharera Vasant Prabhu.
If this developer looks for extensions, almost 385 projects will be deleted.
This will take the “expiration” project calculation to 2,986.
The Chairperson of the Maharashtra Welfare Association of Maharashtra Ramesh Prabhu told TII, “This is a good sign because if Maharera has not marked these projects as ‘lapsed’, the promoters will not take the initiative to turn it on.
It will also help buyers of flats gather and take part in collective efforts Complete the project through the promoter.
The Confederation of the Indian Real Estate Developer Association (Crediei) of the State President of Sunil Furde, “This is a good step by Maharera.
Credi-Maharashtra also requested the same setting.
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Maharera extension is likely for the 10% ‘lapsed’ project
