Maharashtra RERA freezes bank accounts of over 1,950 stalled real estate | Sell flats of buyers in Amrapali project not turning up for possession: SC
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The Maharashtra Real Estate Regulatory Authority (MahaRERA) has cracked down on errant real estate developers with stalled or lapsed projects by freezing the bank accounts of over 1,950 such ventures.
Saying bookings will be cancelled and flats will be sold to other buyers, the Supreme Court on Thursday took a dim view on home buyers not turning up to take possession of flats in the Amrapali projects, being completed by the state-owned NBCC.
Govt's flagship housing scheme, Pradhan Mantri Awas Yojana (PMAY), for economically weaker sections of society completes a decade since its launch in Ghaziabad this year without any units being delivered to allottees.
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The Lucknow zonal office of the directorate of enforcement (ED) provisionally attached nine immovable properties worth Rs 75.16 crore.
Godrej Properties (GPL) has acquired about 24-acres of land parcel in Indore.
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