MahaRERA to extend nearly 1,540 lapsed projects
Real Estate

MahaRERA to extend nearly 1,540 lapsed projects

The Maharashtra Real Estate Authority (MahaRERA) may provide an extension to about 1,540 or 34% of the total 4,483 lapsed projects, without any bookings, across the state.

A majority of such schemes are from Pune (363), followed by Raigad (233) and Mumbai (75). Projects without any bookings can be viewed for an extension. The remaining 2,943 projects will, yet, be examined as public money has been invested into them. For these projects to be achieved, 51% of buyers' consent will be needed for work continuation, as per MahaRERA official.

From the commencement of this year, MahaRERA has been listing out projects with expired terms to keep a check on developers and putting pressure on them to achieve these projects. MahaRERA has listed the projects with completion deadlines from 2017 to 2022 (February) as expired or lapsed.

The authority had made a list of such projects whose promoters did not apply for an extension. They additionally did not upload Form 4 from the architects on fulfilment of the projects on the website. Those with mere technical problems of not uploading forms correctly have been deleted from the list.

A consumer forum member and member of the Central Advisory Council, Abhay Upadhyay, asked the authority for not following up on the compulsory quarterly updates by the builders on the website. According to the provisions of Section 11 of the RERA act 2016, read with Rule 20, every promoter is needed to update the details of registered projects every quarter. As per the rules, the developers of these projects have been restricted from selling and marketing the projects before asking for an extension of the completion date, which will need consent from 51% of buyers.

Image Source

Also read: MahaRERA declares 407 projects 'lapsed' in state in 2021

The Maharashtra Real Estate Authority (MahaRERA) may provide an extension to about 1,540 or 34% of the total 4,483 lapsed projects, without any bookings, across the state. A majority of such schemes are from Pune (363), followed by Raigad (233) and Mumbai (75). Projects without any bookings can be viewed for an extension. The remaining 2,943 projects will, yet, be examined as public money has been invested into them. For these projects to be achieved, 51% of buyers' consent will be needed for work continuation, as per MahaRERA official. From the commencement of this year, MahaRERA has been listing out projects with expired terms to keep a check on developers and putting pressure on them to achieve these projects. MahaRERA has listed the projects with completion deadlines from 2017 to 2022 (February) as expired or lapsed. The authority had made a list of such projects whose promoters did not apply for an extension. They additionally did not upload Form 4 from the architects on fulfilment of the projects on the website. Those with mere technical problems of not uploading forms correctly have been deleted from the list. A consumer forum member and member of the Central Advisory Council, Abhay Upadhyay, asked the authority for not following up on the compulsory quarterly updates by the builders on the website. According to the provisions of Section 11 of the RERA act 2016, read with Rule 20, every promoter is needed to update the details of registered projects every quarter. As per the rules, the developers of these projects have been restricted from selling and marketing the projects before asking for an extension of the completion date, which will need consent from 51% of buyers. Image Source Also read: MahaRERA declares 407 projects 'lapsed' in state in 2021

Next Story
Infrastructure Transport

Modi Launches Rs 318.5 Billion Projects in Maharashtra

Prime Minister Narendra Modi on Wednesday launched infrastructure projects worth Rs 318.5 billion during his two-day visit to Maharashtra, including two landmark developments — the first phase of the Rs 196.5 billion Navi Mumbai International Airport (NMIA) and the second phase of the Rs 122 billion Mumbai Metro Line 3. India’s first fully digitised airport, NMIA, has been designed for multimodal connectivity and is being developed under a public-private partnership between Adani Airport Holdings, which holds a 74 per cent stake, and the City and Industrial Development Corporation of Maha..

Next Story
Real Estate

Tata Housing Sells Rs 10 Billion Homes in Bengaluru

Real estate developer Tata Housing on Wednesday announced that it has achieved home sales worth over Rs 10 billion in its newly launched residential project in Bengaluru, driven by strong demand. In a statement, the company said Tata Housing Varnam Phase I — part of the 135-acre integrated township Carnatica in North Bengaluru — has surpassed Rs 10 billion in sales since its launch in August 2025. Spread across 20 acres, Varnam Phase I has recorded sales of 377 units out of 582 apartments, along with 48 townhouses and row houses. The project has attracted substantial interest from both e..

Next Story
Infrastructure Transport

OMRON to Train 1,000 Graduates Annually at Bengaluru Centre

Japanese industrial automation giant OMRON announced on Wednesday that it will train and skill 1,000 fresh engineering graduates annually at its newly launched Automation Centre in Bengaluru. The initiative aims to enhance India’s employable manufacturing talent and build a resilient, future-ready industrial ecosystem. Motohiro Yamanishi, President of the Industrial Automation Company at OMRON Corporation, said, “We see immense potential in the dynamism of India’s manufacturing sector. The new Automation Centre underscores India’s vital role in our global and Asia-Pacific vision. It i..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?