1. Land survey for inner ring road in three villages ????
The district administration is gearing up for a land survey in three villages - Solu, Nirgudi, and Wadgaon Shinde. The first phase will encompass a 5-kilometer stretch, requiring the acquisition of 28 hectares of land from these three villages.
????️ The reason behind this endeavor is to acquire land for the proposed inner ring road project by PMRDA. The state government has proposed an 83.12-kilometer-long inner ring road. The District Collector has approved the notification under section 11 of the Land Acquisition Act, 2013, and it will be published in the government gazette next week. After the notification, land measurement will be carried out, followed by land acquisition. ????
2. MahaRERA has deregistered seven projects.
In February 2023, MahaRERA allowed the deregistration of certain projects due to financial problems, poor response from buyers, and other issues cited by developers. This move provides an option for homebuyers to exit these projects, with the condition that complaints are resolved. It is emphasized that transparency in the deregistration process is crucial, and the reasons for project cancellations should be publicly disclosed.????
Furthermore, following deregistration, developers are prohibited from advertising, marketing, booking, selling, or offering apartments for sale. This step is taken to safeguard the interests of buyers and maintain transparency in the process.
3. For prospective homebuyers, here's some good news
MahaRERA is working on a framework for quality assurance in real estate projects. Developers will need to submit biannual reports on materials and workmanship. This will empower homebuyers to make informed decisions.????
Notably, MahaRERA's existing act allows buyers to demand improvements for up to five years if defects or quality issues arise. With the new framework, quality and defects will be addressed during construction, reducing the need for post-possession claims and ensuring transparency.
MahaRERA seeks input from developer self-regulatory bodies. Chairman aims to prevent post-possession issues for homebuyers.????