MahaRERA extends deadline for de-registration of 107 projects
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has extended the deadline for submitting comments and complaints till July 2 before de-registering 107 projects in the state. According to the regulatory official, it previously received a proposal for the deregistration of 88 projects, after which it solicited suggestions and complaints. Another 19 new projects have been added to the list, bringing the total to 107.
Meanwhile, the MahaRERA has received no suggestions or objections to the de-registration of 88 projects. As a result, the authority decided to prolong the timetable while also adding new projects to the list of de-registration.
Several well-known developers' projects, including Hubtown's Solaris 14 storey (Andheri) and Hubtown Siddhi (Thane), as well as Ashwin Sheth's Sheth Vasant Lawns of Thane, have been de-registered.
According to MahaRERA, in response to its notification on February 10 allowing developers to apply for de-registration of projects with some conditions, it has received responses from developers for deregistration. These projects are in Pune, Raigad, Thane, Mumbai City, Sindhudurg and Palghar, Nashik, Nagpur, Chhatrapati Sambhaji Nagar, Satara, and Mumbai Suburb, Kolhapur, Nanded, Latur, Ratnagiri and Dadra Nagar Haveli.
According to MahaRERA, developers frequently register a project but are unable to complete it due to factors such as a lack of cash, a family disagreement, litigation, the feasibility of the project, a change in government planning authority notice, and so on. In such cases, MahaRERA permits for deregistration.
While the laws require the developer to meet the prerequisites for deregistration of projects with bookings, such projects will be considered if the promoter settles the rights of the allottees and documentation to that effect are provided for verification.
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