MahaRERA suspends registration of 1,950 housing projects over non-compliance

MahaRERA suspends 1,950 housing projects in Maharashtra for missed deadlines, freezing bank accounts and halting sales until compliance is met.

Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has suspended the registration of 1,950 housing projects across the state due to missed completion deadlines and failure to update project details. The suspension will remain in effect until developers comply with the requirements.

MahaRERA suspends registration of 1,950 housing projects over non-compliance

While MahaRERA has not disclosed the names of the affected developers and projects, the highest number of suspensions were recorded in Pune district (487), followed by Raigad (240), Thane (204), and Mumbai city and suburbs (162).

As part of the enforcement measures, bank accounts of these projects have been frozen, and Joint District Registrars have been instructed to halt the registration of flat sales or purchases within these developments.

In addition, action is being initiated against another 3,499 projects that have failed to respond to notices issued by the authority.

In December 2024, MahaRERA issued show-cause notices to developers of 10,773 lapsed housing projects. Of these, 5,324 developers (49.41%) provided project status updates within the stipulated 30-day period. Among these, 3,517 projects submitted Occupancy Certificates, while 524 applied for deadline extensions. The status of 1,283 projects is currently under scrutiny.

Under MahaRERA regulations, developers are required to specify the project’s proposed completion date at the time of registration. If the project is completed by the deadline, Form 4 and an Occupancy Certificate must be submitted. For incomplete projects, developers are required to seek deadline extensions. In cases where the project faces significant challenges, the developer must apply for de-registration.

Additionally, developers are mandated to submit quarterly and annual progress reports on MahaRERA’s website within the prescribed timeframes.

Highlighting the importance of compliance, MahaRERA chairman Manoj Saunik stated, “The primary objective of the Real Estate (Regulation and Development) Act, 2016 is to ensure transparency, accountability, and financial discipline in the real estate sector. Every housing project is required to update its status on MahaRERA’s website periodically, keeping homebuyers informed.”

He further noted that a review by the Compliance Cell in January 2023 revealed that only three out of 748 projects had updated their information. However, subsequent follow-ups have led to significant improvements, as evidenced by the responses to show-cause notices.

MahaRERA’s actions are aimed at protecting homebuyers and ensuring that real estate projects adhere to regulatory standards, fostering greater transparency in the sector.