49 Kalyan projects lose registration

MahaRERA freezes bank accounts; urges civic authorities to upload CC, OC on dedicated portals

MUMBAI: In a suo moto action, the state housing regulator, the Maharashtra Real Estate Regulatory Authority (MahaRERA), has revoked the registration of 49 projects being probed in Kalyan RERA scam for allegedly submitting fake commencement certificates for “unfair trade practices”, and directed that their designated bank accounts associated with the projects be frozen.

The order by a bench comprising came after a joint hearing at the Bandra Kurla Complex (BKC) headquarters of MahaRERA was held on October 28.

MahaRERA has also directed all departments to ensure that all statutory certificates like Commencement Certificates (CC) and Occupancy Certificate (OC) be uploaded immediately on their respective websites, as soon as they are issued. Any changes or modifications thereafter must also be immediately be updated. To further contain the damage done, the authority restrained the promoters of all 49 projects from advertising, marketing, booking, selling or offering any apartment or building for sale in any of these projects. During the physical hearing at the BKC office, only 24 out of 49 promoters or their representatives were present. Some of the advocates present sought

more time as a criminal investigation was launched against their clients by Thane crime branch and pleaded that no “precipitatory action” be taken against their clients till the investigation is completed. MahaRERA bench heard the advocates, took on record the written submissions made and reserved its orders.

MahaRERA observed that as per Section 4 of Real Estate (Regulation and Development)