Builder will lose right if home project is delayed.

Builder will lose right if home project is delayed.

The state real estate watch dog , MahaRERA on thursday issued a standard operating procedure to allow home buyers to remove a developer in a delayed project, which will then be given to an expert panel to help complete it. The authority clarified it can take act only in non litigated cases.

In case of revocation orders the developer will lose right on the project and all his bank accounts will stay frozen, the order said adding that a panel will be set up to prepare a project report in 4 months to decide an action.