With Gudi Padwa, one of the biggest festivals when builders launch their projects, only a month from now, the Bombay High Court’s restraining order on the BMC, to not issue IOD and CC for new construction, comes as a major blow to the real estate sector. Hardly two weeks ago, the state government signed a Memorandum of Understanding (MoU) with the builders’ body, MCHI, to construct more than 6 lakh affordable homes.

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