MahaRERA to revive stalled housing projects

The Maharashtra Real Estate Regulatory Authority (MahaRERA) is working on ways to revive more than 2,800 stalled and dilapidated housing projects worth Rs 78,684 crore.

With a dedicated team to identify the factors that cause the projects to stall or fail, MahaRERA is ready to find solutions for their resurgence.

MahaRERA has set up a special vertical headed by retired IAS officer Sanjay Deshmukh to investigate the stalled and dilapidated projects.

MahaRERA planned to monitor the construction phase in each of the derelict projects, resend notifications to the developers and cooperate with self-regulatory authorities such as the Confederation of Real Estate Developers' Associations of India (Credai) or Maharashtra Chamber of Housing Industry (MCHI ) to revive these projects.

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