291 projects face MahaRERA axe if no updates by Nov

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a stern warning to 291 real estate projects, including 63 from the district, as they have failed to upload their quarterly project report details on the authority's website, despite receiving notices last month.

In the event that these developers do not respond by November 10, MahaRERA may proceed with the deregistration of these projects. If developers wish to recommence these projects, they will be required to undergo a fresh registration process, according to a senior MahaRERA official.

Among the 291 projects at risk of deregistration, 104 are situated in the Konkan region, which includes Mumbai, and 63 are located in Pune district. Last month, MahaRERA had dispatched notices to developers of a total of 363 real estate projects for their failure to comply with the requirement of uploading quarterly project report details on the MahaRERA website. To date, developers of 72 of these projects have responded to the notices by paying a penalty of Rs 50,000 and subsequently uploading the necessary project details.

MahaRERA officials have emphasized that this represents the final opportunity for developers to submit their quarterly project details or risk facing deregistration. Notably, these projects were registered during the current year.