RERA warns action for failing to meet deadline

MahaRERA chairperson Gautam Chatterjee on Friday said it has so far received nearly 30 complaints from consumers and also hinted at stern actions against developers, who fail to register their projects by August 31.

“We have received 30 complaints so far and we have already started the hearing process from today. These complaints are mainly pertaining to delay in project completion,” he said at an event organised here jointly by FICCI and Grant Thornton.

The regulator has so far received over 12,700 applications, out of which around 8,000 have been registered and the registration for the remaining would be completed in the next 6-7 days, Chatterjee said.

“Till July 28, we had received only 1,500 hundred applications. But after giving the extensions as per the provisions of the Act, we have so far received over 12,700 applications. However, we will not allow any further extension. We will take stern action against those who fail to register their projects before August 31,” he said.

While addressing the gathering, he said there is a huge demand-supply mismatch in the affordable segment and private players need to develop projects for the economically weaker section and low and middle income groups.

“State housing authorities across the country cannot create housing stock to meet this huge demand. To bridge the gap, private players will have to come forward and develop housing stock for these sections of the society,” he said.

Chatterjee further added that the central and the state governments are offering various incentives and subsidies for such development, so developers should take advantage of this.