To further bring in more transparency between realtors and the public, the Maharashtra Real Estate Authority directed real estate developers to update project progress on time, said reports.

The real estate body has advised regulators to file updates about their ongoing projects every quarterly, half-yearly and on an annual basis. In addition, the report added that the regulator plans to introduce the 'Financial Quarter Based Project Progress Reporting System' for all real estate projects.

Developers are required to provide updates on ongoing registered projects under seven categories under MahaRERA, said reports

There are responsibilities of the realtor, including providing information on quarterly and annual updates, withdrawals from designated accounts, completion of projects and occupancy certificates and conveyances.

Promoters will have to keep project stakeholders informed about incremental changes in building plan approvals, the physical progress of the project, and the booking status for plots, apartments and units.