MahaRERA Records 19 New Deregistrations
Real Estate

MahaRERA Records 19 New Deregistrations

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has received deregistration applications for 19 additional projects, including prominent developments like Lokhandwala’s project at Worli Naka and Lodha’s project in Dombivli. These new applications contribute to a growing trend, bringing the total deregistration requests to approximately 400 across the state.

Deregistration is typically sought in cases involving zero bookings, financial difficulties, project infeasibility, or new planning authority notifications affecting the project. MahaRERA has approved the deregistration of around 200 projects to date, with others under review. To ensure transparency, the authority has published the list of the 19 projects on its official website to alert potential home buyers.

Promoters seeking deregistration must meet specific criteria, including zero bookings in the affected project or part thereof. If deregistration impacts other phases of a larger project, the consent of two-thirds of existing allottees is mandatory. MahaRERA carefully scrutinizes applications, verifying accounts and CA certifications, and ensures that home buyer interests remain protected before granting approvals.

The deregistration policy, introduced in February last year, allows developers to exit projects that are economically unviable, financially constrained, or hindered by legal disputes and regulatory changes. MahaRERA emphasizes that stalled projects benefit no stakeholders, and deregistration can help reallocate resources more effectively.

Homebuyers or other stakeholders can challenge deregistration decisions through complaints, which MahaRERA addresses promptly. The regulatory body also enforces binding conditions on promoters post-deregistration to maintain accountability.

This initiative highlights MahaRERA’s efforts to balance the interests of developers and homebuyers while addressing challenges within the real estate sector.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has received deregistration applications for 19 additional projects, including prominent developments like Lokhandwala’s project at Worli Naka and Lodha’s project in Dombivli. These new applications contribute to a growing trend, bringing the total deregistration requests to approximately 400 across the state. Deregistration is typically sought in cases involving zero bookings, financial difficulties, project infeasibility, or new planning authority notifications affecting the project. MahaRERA has approved the deregistration of around 200 projects to date, with others under review. To ensure transparency, the authority has published the list of the 19 projects on its official website to alert potential home buyers. Promoters seeking deregistration must meet specific criteria, including zero bookings in the affected project or part thereof. If deregistration impacts other phases of a larger project, the consent of two-thirds of existing allottees is mandatory. MahaRERA carefully scrutinizes applications, verifying accounts and CA certifications, and ensures that home buyer interests remain protected before granting approvals. The deregistration policy, introduced in February last year, allows developers to exit projects that are economically unviable, financially constrained, or hindered by legal disputes and regulatory changes. MahaRERA emphasizes that stalled projects benefit no stakeholders, and deregistration can help reallocate resources more effectively. Homebuyers or other stakeholders can challenge deregistration decisions through complaints, which MahaRERA addresses promptly. The regulatory body also enforces binding conditions on promoters post-deregistration to maintain accountability. This initiative highlights MahaRERA’s efforts to balance the interests of developers and homebuyers while addressing challenges within the real estate sector.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?