Stay updated with breaking news from Delayed Project. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The project is spread over 12,091 square metres, and comprises a total saleable area of about 6,80,000 square feet across five towers. About 30 percent of the project has been completed and sold.
The real estate regulator dismissed pleas for delayed compensation and held that a development will be considered complete where the partial occupancy certificate has been issued.
State real estate regulatory bodies do not fall under the ambit of the state Lokayukta to address homebuyers' grievances
In February 2022, a petition was filed against Mantri Developers by Indiabulls Housing Finance Ltd (IHFL) after the real estate company defaulted on a loan of Rs 456.6 crore that was sanctioned by IHFL.
In Maharashtra, over 5,700 projects worth Rs 1,13,023 crore have lapsed. This translates into a total of 4,08,350 apartments, 1,63,042 of which have been booked.