MahaRERA ( The Maharashtra Real estates Regulatory Authority) issues show-cause notices to 40 lapsed real estate projects, asking the developers to give an explanation as to why their projects have lapsed in one month.
The authority has also asked these developers, why action should not be taken against their projects under section 7&8 of the RERA Act.
After getting responses from the developers, further actions will be taken. Notices are issued to developers in Mumbai Metropolitan Region (MMR).
The move has been made by the MahaRERA to revoke the registration of the project and also appoint allottees to take over the project and complete it.
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