MahaRERA declares 407 projects 'lapsed' in state in 2021

09 Mar 2022 CW Team

Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced 407 projects across the state 'lapsed' in 2021 after their validity of registration expired.

The lapsed list comprises approximately 23 projects in the Aurangabad division alone. According to the rules, a promoter must not advertise, market, book, sell or offer for sale, or invite people to buy any plot, apartment, or building in any of these projects.

Consumer rights activist Vivek Velankar told the media that the buyers must check the MahaRera database before purchasing a property.

Additionally, there must be official clarity on how buyers, who had booked flats or homes in the launch or pre-launch stage, can back out of such lapsed projects easily. The MahaRERA must prevail upon promoters to return the buyers’ money with interest.

When contacted, the Confederation of Real Estate Developers Association of India (Credai) office-bearers told the media that they were looking at the 407 projects involved closely and recognising problems with them.

The Credai is working with the officials to utilise the provision of sections 15 and 7 of the MahaRERA Act, wherein another developer takes over the project so that it is done and the buyers get their houses. They are committed to finding a solution to these projects and delivery of houses to the people who have invested in them, according to Manish Jain, the vice-president of Credai (Pune Metro).

Image Source

Also read: MahaRERA issues warrants worth Rs 633 cr against errant developers

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..