The real estate project was taken over by the association of allottees because the developer could not complete it in a time-bound manner
The Maharashtra real estate regulator has directed homebuyers in a delayed project to withdraw from it only after the association of allottees that has taken over or another developer completes the construction of the apartments. The Maharashtra Real Estate Regulatory Authority (MahaRERA) said the homebuyers must wait until the project is completed so that the association of allottees or the new developer can sell the apartments of those who want to exit and refund them. Placing a financial liability on the association or the new developer may further delay the project, it said.
https://www.moneycontrol.com/news/business/real-estate/maharera-directs-homebuyers-of-delayed-mumbai-project-to-exit-only-after-completion-9348431.html
Source: Money Control
