MahaRERA puts 350 lapsed residential projects under scrutiny

23 Sep 2021 CW Team

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has placed around 350 of the 3,371 lapsed residential projects under scrutiny after developers sought time extension for completion of the projects, citing several reasons.

The developers of these 350 projects also want MahaRERA not to incorporate those in the lapsed project list.

Recently, over the state, the MahaRERA had described 3,371 residential projects as lapsed projects between 2017 and 2021, with the developers failing to finish them within the deadline.

Of these, 350 residential projects have come up for scrutiny by MahaRERA.

A MahaRERA official said that it is less than 10% of the total number of the lapsed projects. A circular will be issued on what kind of projects have been categorised in the lapsed project category and can be regularised.

It will discuss the conditions that the developers of these projects have to follow and not let the citizens suffer, he said.

The authority is mulling over whether or not to approve the projects that have uploaded Form 4 and occupancy certificate (OC), with the date of OC before the project expiry.

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Also read: MahaRERA lists 1,824 housing projects as expired

Also read: MahaRERA issues new guidelines to resolve buyer-builder disputes

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