The Maharashtra Real Estate Regulatory Authority (MahaRERA) has carried out inspections of over 125 real estate projects worth over Rs 2,000 crore over suspected financial irregularities being seen in the information provided to MahaRERA by the developers, senior MahaRERA officials told Moneycontrol.The inspection was carried out where significant amounts had been spent from the receivables of homebuyers, but very little construction work had been done. “We had begun site inspections by appointing investigators in February 2023,” a senior MahaRERA official said.
According to MahaRERA officials, while reports on a few projects have already been submitted, investigators are preparing reports on others after actual progress on the construction and other related matters is inspected.The report format includes project details such as stages of construction, target of completion approved by RERA, target set by the developer and opinion of investigators as to when they feel the project can be completed, the official said.
https://www.moneycontrol.com/news/business/real-estate/mc-exclusive-maharera-inspects-over-125-project-sites-worth-rs-2000-cr-for-suspected-irregularities-11114391.html
Source: Money Control
