MahaRERA suspends registration of 1,750 lapsed housing projects

MahaRERA suspends registration of 1,750 lapsed housing projects in Maharashtra, taking steps against 1,137 more. Homebuyers advised to be cautious

Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has suspended the registration of 1,750 lapsed housing projects and is taking steps against an additional 1,137 projects.

Of the 1,750 projects, the Mumbai Metropolitan Region has the highest number at 761. (Photo by Bhushan Koyande/HT Photo)

Of the 1,750 projects, the Mumbai Metropolitan Region has the highest number at 761, followed by Pune with 628 projects. North Maharashtra has 135, Vidarbha has 110, Marathwada has 100, Dadra Nagar Haveli has 13, and Daman has 3.

MahaRERA advised homebuyers to be cautious when investing in these projects. Builders must specify the project’s proposed completion date when applying for MahaRERA registration. If the project is completed after this date, the builder must submit an Occupancy Certificate to MahaRERA. For incomplete projects, builders must either renew the registration or apply for de-registration. Projects are declared lapsed if these steps are not taken, resulting in the sealing of bank accounts and a ban on advertising, marketing, and selling the flats, according to a MahaRERA spokesperson.

MahaRERA issued a 30-day show-cause notice to developers of 6,638 projects across Maharashtra. Of these, 3,751 projects have either submitted an Occupancy Certificate, applied for registration renewal, or filed for project cancellation.

Out of the remaining 2,887 projects, 1,750 have had their registrations suspended, and steps are being taken to suspend 1,137 more.

In Mumbai city, there are 48 projects, with 115 in the suburbs. Thane has 182 projects, and Palghar has 216.

MahaRERA Chief Ajoy Mehta emphasised the authority’s commitment to protecting homebuyers from being misled or cheated. “From the start of the project to its completion, all project-related information available with the developer should be made available to the homebuyer for a well-informed decision while buying a home. With this objective, MahaRERA, based on various regulatory provisions, is thoroughly monitoring the real estate sector at various levels. A dedicated Compliance Cell has been established for this purpose. It is mandatory to update the status of each project on MahaRERA’s website and insist on the submission of compliance reports within the stipulated timelines,” Mehta said.