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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code