MahaRERA lays out conditions for developers to come out of 'blacklist'

Thursday, 23 Sep, 10.17 pm

Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA) in a recent development has issued a new circular laying out conditions to regulate blacklisted developers. According to this new circular if a project which lapsed the project deadline for instance for want of 51 per cent consent from allotees they can apply to MahaRERA for hearing and based on merits the regulatory will decide whether extension can be given or not. It reads, "In case there is sold inventory, consents are less than 51%, apply with available consents.