A look at the ‘Last Modified Date’ field for all the projects in MMR & Pune registered on MahaRERA reveals that 65% of the projects have not updated the data in the last 3 months. As per clause no. 20, the Maharashtra RERA act says that the project information needs to be updated at the interval of every quarter <link>. The data which developers have to update is primarily –(1) Units Sold and (2) completion %.
We also observe that primarily small projects with carpet area of less than 50,000 sft are 66% of the projects that have not been updated on RERA. This leads us to believe that maybe small developers are the ones who are not updating their projects on a quarterly basis. To validate this further, we also did a manual check for some of the leading developers and found that they are updating their projects.
Additional Reading:
We had analysed the housing projects in MMR based on project registered on MahaRERA till 31st August 2017. Read full report
PropMODI.com – view property registrations in MahaRERA registered projects for Free!
