MREAT Orders Cidco to Register as Promoter
Real Estate

MREAT Orders Cidco to Register as Promoter

In a recent ruling, the Maharashtra Real Estate Appellate Tribunal (MREAT) ordered Cidco to register as a promoter (Town Development) with the Maharashtra Real Estate Regulatory Authority (MahaRERA) within 30 days for its ongoing land schemes, similar to a 2017-18 disposal plan. The tribunal also mandated that Cidco register for future projects before any advertising, sale, or marketing activities.

The directive followed an appeal by the Maharashtra Chamber of Housing Industry (MCHI), Raigad, challenging a 2019 MahaRERA order, which stated that Cidco's transactions for plot sales did not constitute a real estate project. MREAT disagreed, clarifying that Cidco's land development activities meet the criteria of a real estate project under the Real Estate (Regulation and Development) Act, 2016, and thus require registration.

In a recent ruling, the Maharashtra Real Estate Appellate Tribunal (MREAT) ordered Cidco to register as a promoter (Town Development) with the Maharashtra Real Estate Regulatory Authority (MahaRERA) within 30 days for its ongoing land schemes, similar to a 2017-18 disposal plan. The tribunal also mandated that Cidco register for future projects before any advertising, sale, or marketing activities. The directive followed an appeal by the Maharashtra Chamber of Housing Industry (MCHI), Raigad, challenging a 2019 MahaRERA order, which stated that Cidco's transactions for plot sales did not constitute a real estate project. MREAT disagreed, clarifying that Cidco's land development activities meet the criteria of a real estate project under the Real Estate (Regulation and Development) Act, 2016, and thus require registration.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000