Maharashtra real estate developers plan to halt construction due to soaring raw material costs, urging government intervention and a six-month project deadline extension from MahaRERA.
1,824 Maharashtra residential projects labeled "expired" by MahaRERA for exceeding deadlines. Developers need 51% buyer consent for extensions and face restrictions on promotion.
MahaRERA orders developers to disclose sold, booked inventory to enhance transparency and prevent multiple transactions.
Credai Maharashtra praises state's decision to reserve 20% of flats for the weaker section in developments on one acre of land. The policy aims to reduce slums and provide affordable housing.