MahaRERA has1,750 lapsed housing projects pending

11 Jun 2024 CW Team

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to put the registration of 1,750 lapsed housing projects on hold across the state. Additionally, measures are being taken to apply similar actions to another 1,137 projects.

Among these suspended projects, the Mumbai Metropolitan Region leads with 761 projects under suspension, followed by the Pune region with 628 projects. Other regions affected include North Maharashtra (135 projects), Vidarbha (110 projects), Marathwada (100 projects), Dadra Nagar Haveli (13 projects), and Daman (3 projects).

Homebuyers are advised to exercise caution when considering investments in any of these projects. The complete list of suspended projects is accessible on MahaRERA?s website.

Developers seeking MahaRERA registration must specify the anticipated completion date of the project. Should the project exceed this declared completion date, the developer must furnish an Occupancy Certificate (Form IV) to MahaRERA upon completion.

In cases where the project remains unfinished, developers are required to initiate the renewal process for registration. If challenges arise in commencing the project, an application for the project's deregistration is necessary.

(Source: Indiatimes )

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