MahaRERA freezes bank account of developer, restricts sales in South Mumbai project
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ordered freezing of the bank account of a developer created for an over Rs 100-crore real estate project in south Mumbai. The redevelopment project has been delayed for a decade now. The MahaRERA has restricted further sales or creating any third-party interest in the project and has issued notice to the developer of the project after homebuyers complained in MahaRERA that the developer’s permission for construction in the project was terminated by the Bombay High Court through an order dated August 11.
The complainant, 68-year-old Najaribai Jain, is a tenant of 543 square feet space located in Parvati Building in the Bhuleshwar area of South Mumbai. The said building with around 100 tenants underwent redevelopment with Parekh Constructions being the developer and the complaining tenant became eligible for a 794 sq ft carpet apartment in the new building. However, the tenant paid an additional amount and got himself a 1,017 sq ft carpet apartment in the building which has been undergoing redevelopment since 2013 but is yet to get possession.
Source : Money Control
