Housing society is also a promoter !

Said by Maha RERA.

Incident

Location - Goregaon,

Project name - Horizon

Society - Udayanchal CHS

Developer - Jaycee Home Pvt Ltd

Society terminates agreement with developer due to non compliance of development terms. 11 of 15 floors already constructed.

New purchasers move to Maha RERA for project completion.

Society by being owner of the land is a promoter.

Hence holds joint responsibilities for completion of project along with developer.