Maharashtra RERA blacklists 644 projects in the state
Real Estate

Maharashtra RERA blacklists 644 projects in the state

Maharashtra Real Estate Regulatory Authority (MahaRera) has blacklisted 644 projects for delays in completion as part of a statewide crackdown on rogue builders. MahaRera has made it illegal to sell, promote, or advertise homes in those developments.

About 80% of the homes in these developments have already been sold.

Anarock Property Consultants, a real estate consultancy firm that analysed the data, discovered that 16% of the 644 projects were expected to be completed by 2017, while 84% had a deadline of 2018.

With 274 (43%) of the 644 blacklisted projects, the Mumbai Metropolitan Region (MMR) is in first place, followed by Pune with 189 (29%). The remaining 181 projects (28%) are located in Nagpur, Aurangabad, Nashik, Kolhapur, Satara, Ratnagiri, and Sangli.

The move was dubbed a constructive transfer by Anuj Puri, chairman of the consultancy firm. MahaRera's move sends a strong message to errant developers who have been repeatedly delaying projects.

Homebuyers have been waiting for possession since 2017 and 2018, Puri told the media that, adding that each of these projects was built by local builders rather than a well-known or major developer.

Advocate Vinod Sampat told the media that it was now up to the flat owners to make a decision. Owners of flats must band together and decide on the project's future. They have the option to hire a new developer.

MahaRera has registered 29,884 real estate projects since its inception on May 1, 2017, with 7,245 of them completed.

Image Source


Also read: SC rules against unauthorised constructions in Aravali forest

Also read: DTCP razes two illegal colonies in Gurugram

Maharashtra Real Estate Regulatory Authority (MahaRera) has blacklisted 644 projects for delays in completion as part of a statewide crackdown on rogue builders. MahaRera has made it illegal to sell, promote, or advertise homes in those developments. About 80% of the homes in these developments have already been sold. Anarock Property Consultants, a real estate consultancy firm that analysed the data, discovered that 16% of the 644 projects were expected to be completed by 2017, while 84% had a deadline of 2018. With 274 (43%) of the 644 blacklisted projects, the Mumbai Metropolitan Region (MMR) is in first place, followed by Pune with 189 (29%). The remaining 181 projects (28%) are located in Nagpur, Aurangabad, Nashik, Kolhapur, Satara, Ratnagiri, and Sangli. The move was dubbed a constructive transfer by Anuj Puri, chairman of the consultancy firm. MahaRera's move sends a strong message to errant developers who have been repeatedly delaying projects. Homebuyers have been waiting for possession since 2017 and 2018, Puri told the media that, adding that each of these projects was built by local builders rather than a well-known or major developer. Advocate Vinod Sampat told the media that it was now up to the flat owners to make a decision. Owners of flats must band together and decide on the project's future. They have the option to hire a new developer. MahaRera has registered 29,884 real estate projects since its inception on May 1, 2017, with 7,245 of them completed. Image Source Also read: SC rules against unauthorised constructions in Aravali forest Also read: DTCP razes two illegal colonies in Gurugram

Next Story
Infrastructure Urban

ORSL and IIT Roorkee Join Hands for Biomass and Biochar Research

Organic Recycling Systems (ORSL), a leading Indian clean-tech company pioneering sustainable waste valorisation and circular economy solutions, has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology, Roorkee (IIT Roorkee) to collaborate on cutting-edge research in biomass valorisation, biochar development, and advanced environmental technologies.The collaboration combines the industrial expertise of ORSL with the research excellence of IIT Roorkee’s Department of Hydro and Renewable Energy (HRED) to accelerate innovation in renewable energy, circular economy m..

Next Story
Infrastructure Urban

CMPDI installs bio-toilets to boost sanitation and hygiene

The Central Mine Planning and Design Institute (CMPDI), a subsidiary of Coal India Limited under the administrative control of the Ministry of Coal, has installed six modern bio-toilets equipped with bio-digesters and water tanks across various locations in Ranchi. The initiative was carried out under the ongoing Special Campaign 5.0, underscoring CMPDI’s commitment to cleanliness and sustainable sanitation. This effort forms part of a nationwide drive to enhance hygiene standards and improve efficiency in public offices. It aligns with the Government of India’s Swachh Bharat Mission and ..

Next Story
Infrastructure Urban

PM Modi unveils Rs 12.19 billion projects in Kevadia

Prime Minister Shri Narendra Modi inaugurated and laid the foundation stones for development projects worth Rs 12.19 billion in Kevadia on the eve of Sardar Vallabhbhai Patel’s 150th birth anniversary. The projects include the Birsa Munda Bhavan—an iconic centre dedicated to Bhagwan Birsa Munda—a residential complex for GSEC and SSNNL employees, the first phase of the hospitality district, and a Bonsai Garden. During the visit, the Prime Minister also flagged off a fleet of electric buses in Kevadia, an initiative aimed at providing comfortable and sustainable transport facilities for v..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?