Mahindra Lifespaces To Deregister 11 Villa Projects In Alibaug From MahaRERA
Real estate developer Mahindra Lifespace Developers Limited has submitted an application to deregister the Maharashtra Real Estate Regulatory Authority (MahaRERA) registration for its 11 luxury villa projects in Alibaug, near Mumbai. The Company Spokesperson stated, "As a result of a decision to relaunch the project with a differentiated product offering, we re-registered the project as Meridian.” In February 2023, MahaRERA allowed deregistration of projects that were unviable or were facing trouble. According to MahaRERA, a developer is allowed to deregister a project for reasons such as lack of funds, projects not being economically viable, litigation, disputes, including family disputes, and changes in government/planning authority notifications. In such cases, keeping the projects registered with MahaRERA would not be useful, nor would registration benefit any stakeholders.
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