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.
We had analysed the housing projects in MMR based on project registered on MahaRERA till 31st August 2017. Read full report
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