Maharashtra housing minister Atul Save plans to study the Gujarat model of effective recovery mechanism under the Real Estate Regulatory Act (RERA) for possible adoption in view of the low execution of recovery orders in the state. The Union ministry of housing and urban affairs has directed states to follow the Gujarat model. Save s department will evaluate how the mechanism can be implemented in Maharashtra.
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The order has brought to light several ambiguities in the city s real estate sector and the state government needs to make it clear who is in charge of awarding OC in places that are not governed by any development authority
Developers say they look forward to the final budget post-elections and remain hopeful that the government will announce more policy initiatives to encourage housing for all further - both for buyers and promoters.