The report will be made available to homebuyers to enable them to make an informed decision. MahaRERAwants to establish processes and standards to minimise likelihood of defects occurring in realty projects.
The regulatory authority had suspended registration of around 363 projects for which Forms 1, 2 and 3, that provide information about the status of the project, were not submitted on MahaRera website.
The Maharashtra Real Estate Authority (MahaRERA) has identified 107 projects that violated guidelines. The authority, from August 1, had made it mandatory for developers to display QR code to give information about the project being advertised.
Escrow Accounts: This includes projects coming up in the city as well as other districts of eastern Vidarbha like Wardha, Bhandara, Gondia, Gadchiroli and Chandrapur, which come under the Nagpur division.