The Maharashtra Real Estate Regulatory Authority (MahaRERA) has kept in abeyance the registration of 1,750 lapsed housing projects. These projects are spread across the state. It has initiated measures to take similar action on another 1,137 projects.
Of these 1,750 projects, the Mumbai Metropolitan Region, at 761, has the highest number of projects kept in abeyance. The Pune region, with 628 projects, has the second highest number of such projects, followed by North Maharashtra at 135, Vidarbha at 110, Marathwada at 100, Dadra Nagar Havel at 13, and Daman at 3.
MahaRERA has urged homebuyers to be cautious while investing in any of these projects. The complete list of these suspended projects is available on MahaRERA’s website. Mentioning the proposed date of the project’s completion is mandatory for developers applying for MahaRERA registration.
If the project is completed after this declared project completion date, the developer will be required to submit an Occupancy Certificate i.e. Form IV to MahaRERA. In case the project remains incomplete, the developer will have to initiate the registration renewal process. In the event of any challenges in starting the project, an application for the project’s de-registration is necessary. If none of the above measures are taken by the developer, then such a project is declared as lapsed after its proposed completion date.
Once a project is declared lapsed, its bank accounts are sealed. The developer is also barred from advertising, marketing the project and selling and registering the flats in it. Owing to such reasons, the 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 i.e., Form IV, or applied for renewal of registration, or filed for project cancellation.
Of the remaining 2,887 projects, MahaRERA has kept 1,750 in abeyance and initiated steps to suspend 1,137.
MahaRERA Chairman Ajoy Mehta said, “MahaRERA has always been striving to ensure that no customer is misled or cheated in any way during their entire process of buying a home. 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.”
PROJECTS KEPT IN ABEYANCE – REGION WISE-
Konkan: 761
Mumbai City 48, Mumbai Suburb 115, Thane 182, Palghar 99, Raigad 216, Ratnagiri 77, Sindhudurg 23.
Pune Region: 628
Pune 462, Kolhapur 36, Sangli 27, Solapur 24, Satara 79.
North Maharashtra- 135
Nashik 87, Ahmednagar 32, Jalgaon 10, Dhule 3 and Nandurbar 3
Vidarbha: 110
Nagpur 50, Amravati 24, Bhandara 2, Chandrapur 9, Gadchiroli 1, Wardha 7, Akola 8, Buldana 3, Yavatmal 6
Marathwada: 100
Chhatrapati Sambhaji Nagar 66, Beed 13, Jalna 7, Latur 5, Parbhani 5, Nanded 3, Hingoli 1
Dadra Nagar Haveli:13
Daman 3
