Mumbai, 11th January 2023: According to the RERA Act, the developers (promoters) must update the details of the Maharera registered projects. But it has been revealed that the developers are blatantly violating this rule; this is affecting the customers. In this background, Maharera has found 18,000 such developers and notices are being issued against these developers. So far, notices have been served to 2,000 people. Punitive action will be taken against the guilty developer.
RERA Act is being implemented in the state from 2017 through Maharera. The main objective of the RERA Act is to prevent consumer fraud and bring transparency to the construction sector. That is why many provisions have been made in the RERA Act to ensure that the customers get proper information about the project, to know the changes in the information from time to time, and to avoid being cheated. One of these provisions is that the registered developer is required to update the project information on the Maharera website every three months.
In this background, Maharera has reviewed the registered projects for five years and it has been revealed that a large number of developers are violating this law and not updating the information. As this leads to a violation of law and loss to consumers, Maharera has now started taking action against such developers.
18 thousand developers have not updated the project information in five years. ‘Show cause’ notices have been started against these developers. So far, notices have been served on two thousand people. According to this notice, the concerned developer has been ordered to update the information by giving 30 days. Punitive action will be taken against developers who do not comply with these orders within 30 days. Accordingly, the developer will be fined 30 per cent of the amount received from the project. In total, 18,000 developers are now on the radar of Maharera and those who do not update the information of the projects are going to be careless.