India, May 13 -- In a major relief for homebuyers, the Maharashtra Real Estate Tribunal has directed the Lodha Group, also known as Macrotech Developers, to register a portion of its New Cuffe Parade project located in Wadala with MahaRERA, despite having obtained a part Occupancy Certificate (OC).

The Tribunal noted that the three buildings received the part OC on June 8, 2017-one month after RERA came into effect in Maharashtra. It noted that all projects without completion certificates are required to be registered under RERA.

The issue dates back to May 2017, when the Real Estate (Regulation and Development) Act was enacted. Under this, MahaRERA mandated the registration of all new and ongoing projects to market and sell units.

The...