+
 Developers in Maharashtra may get extension for lapsed projects
Real Estate

Developers in Maharashtra may get extension for lapsed projects

Developers are unable to get consent from 51% of the buyers to seek an extension to complete lapsed projects listed by the Maharashtra Real Estate Regulatory Authority (MahaRERA).

According to the latest orders, developers can seek a joint meeting with MahaRERA and the buyers to consider an extension with other conditions.

The authority lists 3,371 expired projects for which the promoters had not applied for an extension and not uploaded in Form 4, a certificate from the architect after completing the project. MahaRERA has a total of 30,668 registered projects, from which 7,214 projects are completed.

Vasant Prabhu, Secretary of MahaRERA, said that the developers of the lapsed projects should follow the procedure and then upload it in Form 4.

Chairman of Maharashtra Society Welfare Association (MSWA), Ramesh Prabhu, told the media that the authority is allowing the developers to complete their lapsed projects.

He said that the allottees must form an association and seek MahaRERA to take over the lapsed projects. They will have land possession by collecting the balance dues or contributing the required amount, so they will be able to complete the project.

Prabhu said that the association might sell unsold properties to release the funds required to complete the project. If the association has to spend more than agreed, the complaint to recover the extra with interest may be filed before MahaRERA, and it is possible to recover the amount.

An advocate of Bombay High Court, Manjunath Kakkalameli, said that a standard operating procedure (SOP) would work only for actual developers who want to complete their project and the authority may allow an extension to complete the lapsed project.

According to the order, if any promoter does not apply for an extension or does not respond, the developer can apply to the MahaRERA under Section 7 to get help.

Image Source


Also read: Delayed realty projects in India face procedural roadblocks now

Also read: First-sale property e-registrations in Maharashtra to begin from Oct

Developers are unable to get consent from 51% of the buyers to seek an extension to complete lapsed projects listed by the Maharashtra Real Estate Regulatory Authority (MahaRERA). According to the latest orders, developers can seek a joint meeting with MahaRERA and the buyers to consider an extension with other conditions. The authority lists 3,371 expired projects for which the promoters had not applied for an extension and not uploaded in Form 4, a certificate from the architect after completing the project. MahaRERA has a total of 30,668 registered projects, from which 7,214 projects are completed. Vasant Prabhu, Secretary of MahaRERA, said that the developers of the lapsed projects should follow the procedure and then upload it in Form 4. Chairman of Maharashtra Society Welfare Association (MSWA), Ramesh Prabhu, told the media that the authority is allowing the developers to complete their lapsed projects. He said that the allottees must form an association and seek MahaRERA to take over the lapsed projects. They will have land possession by collecting the balance dues or contributing the required amount, so they will be able to complete the project. Prabhu said that the association might sell unsold properties to release the funds required to complete the project. If the association has to spend more than agreed, the complaint to recover the extra with interest may be filed before MahaRERA, and it is possible to recover the amount. An advocate of Bombay High Court, Manjunath Kakkalameli, said that a standard operating procedure (SOP) would work only for actual developers who want to complete their project and the authority may allow an extension to complete the lapsed project. According to the order, if any promoter does not apply for an extension or does not respond, the developer can apply to the MahaRERA under Section 7 to get help. Image SourceAlso read: Delayed realty projects in India face procedural roadblocks now Also read: First-sale property e-registrations in Maharashtra to begin from Oct

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?