Developers received noticed by MAHARERA for not updating Project information

Dated on: Monday 12th February 2018

Real estate Regulator of MAHARERA has slapped a notice to builders for not revising the project information in every three months as per the act. In last three months, only 35% of the developers have updated the project information. Clause 20 of the act says that details of every registered project need to be updated in every quarter in respect of work done and inventory sold. As per the notice of the MAHARERA, this will be decoded as breach or non-compliance.

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