MahaRERA to revive Rs 78,000 cr stuck and lapsed housing projects

28 Jun 2022 CW Team

The regulator has set up a dedicated team to identify the problems related to the stuck projects and come up with solutions that would enable them to revive them.

This is the first time, anywhere in the nation, a state-specific real estate regulator has created a special team for reviving stalled projects.

Out of the 36,000 projects recorded in the last five years in Maharashtra, 4,500 projects, or about 12%, have lapsed, and the state regulatory body’s new vertical will support solving the problems around these projects.

Some of the main things that have driven these projects to be put on hold are unplanned credit backlogs, issues with the approval process, and price growth in raw materials.

Transparency will be the key to supporting fast-track the process of regulation. For this, the authority would require intelligent IT enablement to make a better Address Resolution Protocol (ARP) that will aid in providing end-to-end solutions, said Ajoy Mehta, Chairman, MahaRERA.

However, that will require to be backed by regulatory oversight for monitoring the complexities of the projects, and it will become crucial for the buyers to play a key role in delivering clarity to RERA as well.

For developers, in case they are unable to provide on a certain project, Mehta recommended submitting deviation sheets to their respective state RERAs to enable them to provide solutions and revive the stuck project.

Confederation of Real Estate Developers' Associations of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI), President, Boman Irani, told the media that there needs to be a consensus to mutually agree to take a hit in the interest of conducting business and, if needed, to collaborate through joint ventures (JV) and other techniques for getting a common objective with the support of MahaRERA and all other stakeholders.

To assist set up the building blocks for the industry, and especially MahaRERA to fast-track the revival of these stuck projects, the regulator will be executing certain measures in the following six months.

Image Source

Also read: MahaRERA to extend nearly 1,540 lapsed projects

The Maharashtra Real Estate Regulatory Authority (MahaRERA) is looking to revive stuck and lapsed housing initiatives totalling over Rs 78,000 crore in value, making up for about a fifth of such projects in India. The regulator has set up a dedicated team to identify the problems related to the stuck projects and come up with solutions that would enable them to revive them. This is the first time, anywhere in the nation, a state-specific real estate regulator has created a special team for reviving stalled projects. Out of the 36,000 projects recorded in the last five years in Maharashtra, 4,500 projects, or about 12%, have lapsed, and the state regulatory body’s new vertical will support solving the problems around these projects. Some of the main things that have driven these projects to be put on hold are unplanned credit backlogs, issues with the approval process, and price growth in raw materials. Transparency will be the key to supporting fast-track the process of regulation. For this, the authority would require intelligent IT enablement to make a better Address Resolution Protocol (ARP) that will aid in providing end-to-end solutions, said Ajoy Mehta, Chairman, MahaRERA. However, that will require to be backed by regulatory oversight for monitoring the complexities of the projects, and it will become crucial for the buyers to play a key role in delivering clarity to RERA as well. For developers, in case they are unable to provide on a certain project, Mehta recommended submitting deviation sheets to their respective state RERAs to enable them to provide solutions and revive the stuck project. Confederation of Real Estate Developers' Associations of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI), President, Boman Irani, told the media that there needs to be a consensus to mutually agree to take a hit in the interest of conducting business and, if needed, to collaborate through joint ventures (JV) and other techniques for getting a common objective with the support of MahaRERA and all other stakeholders. To assist set up the building blocks for the industry, and especially MahaRERA to fast-track the revival of these stuck projects, the regulator will be executing certain measures in the following six months. Image Source Also read: MahaRERA to extend nearly 1,540 lapsed projects

Real Estate

07 Aug 2026

BXB Estates Sets AED 110 Million Jumeirah Golf Estates Record

BXB Estates has completed an AED 110 million residential transaction at Jumeirah Golf Estates, setting a new sales record for the prestigious Dubai residential community.Negotiated by Alfie Tabrez, Managing Partner of BXB Estates, the deal surpassed the previous record of AED 58 million for a completed ready villa in the development.The six-bedroom residence offers 21,714 sq ft of built-up space on a 15,873-sq-ft plot. It features nine bathrooms, four living lounges, a home office, bar lounge, private cinema and rooftop terrace.The property also includes a dedicated wellness area comprising a ..

Infrastructure Urban

07 Aug 2026

SECR Floats Rs 6,019 Mn EPC Tender For Paradol Nagpur Link

South East Central Railway (SECR) has invited bids for an Engineering, Procurement and Construction (EPC) contract to build a new broad gauge single line between Paradol Takeoff Point and Nagpur Road Station in Chhattisgarh. The contract carries an estimated cost of Rs 6,019.0 mn and requires an earnest money deposit of Rs 120.4 mn. The work is framed as an EPC assignment intended to strengthen regional rail infrastructure. The tender, issued under number CAO-C-BSP-26-27-15, specifies a completion period of 730 days and a bid validity of 180 days. Two pre-bid meetings are scheduled for 24 Augu..

Infrastructure Transport

07 Aug 2026

Indian Railways Reports Nine Per Cent Rise In July Freight Loading

Indian Railways handled 141.3 million tonnes (141.3 mn t) of freight in July, marking a rise of nine per cent year on year. Freight loading maintained a positive trajectory across the network compared with the same month last year. Passenger traffic also increased in July, contributing to higher overall network utilisation. The July outcome continued a pattern of steady monthly gains, reflecting gradual improvement in industrial and logistics activity. The growth in freight volumes reflected stronger demand across multiple sectors and improvements in logistics and train turnarounds. Enhanced r..