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Pune: With a rise in complaints about the progress of real estate projects, the Maharashtra Real Estate Regulatory Authority is all set to appoint appraisers to inspect delayed and ongoing projects.
These assessors or inspectors will be certified by the Income Tax Department or the Insolvency and Bankruptcy Board of India and site visits will be made. Their report will be accepted as they are professionals certified by the Central Government, a Maharera said the officer.
The authority has issued the letter of interest for the appointment of evaluators. They will be appointed first Mumbai Metropolitan Area, Pune, Nashik, Aurangabad, Amravati and Nagpur.
For other cities and districts, certified engineers who have prior experience with government officials like State Public Works Department (PWD) or Maharashtra Housing and Area Development Authority (MHADA) will act as assessors.
“These investigators will visit the site and submit the actual status of the work at the site in the format listed by MahaRERA and also the estimated cost to be incurred on the construction. This will enable the authority to know whether there is a mismatch between the physical progress or not. and reported the expenditure,” said a senior MahaRERA official.
“It will also enable us to understand and get an idea about the time required to complete the project,” the official said.
MahaRERA expects these inspections to start after two months as tenders are to be called for empanelment of valuation firms.
Representatives from housing federations and civic groups said it was a good initiative, but they were not sure it would help speed up work, unless there was a fine.
Ramesh Prabhu, president of the Maharashtra Society Welfare Association, said these appraisers would keep a watch on the developers as they would not be able to utilize the amount collected for any other purpose.
“It will be a check on the amount collected and the work is completed, so it will ensure that the developer does not embezzle the money for any other purpose,” he said.
Senior MahaRERA officials told TOI that over 125 notices have been issued to developers for non-compliance with the authority’s rules or for their projects being terminated.
“The responses are being assessed and scrutinized after the show-cause notice to the developers,” an official said.
Notices have been issued to projects pending or to be completed in the next few months and where 90% of the work has been completed. About 4,500 lapsed projects worth Rs 78,000 crore were identified by the Authority.
The official said that these developers would be asked why the authority should not initiate action against them under Section 7 of the RERA Act.
Section 7 of the Act provides for appointment of a new developer or handing over of an incomplete project to a consortium of allottees.
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