MahaRERA warns homebuyers against 314 insolvent housing projects
Real Estate

MahaRERA warns homebuyers against 314 insolvent housing projects

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a warning to homebuyers, advising them to avoid purchasing properties in 314 housing projects currently undergoing insolvency proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) of 2016.

The Corporate Insolvency Resolution Process (CIRP) was initiated against these projects by banks, financial institutions, and other creditors. Among the 314 projects, 56 are ongoing, with over 34% of apartments already registered. Additionally, 194 projects have lapsed, with 61% property registration, while 64 projects are completed, with 84% of apartments registered.

Prominent real estate developers involved include Wadhwa Buildcon LLP, Housing Development & Infrastructure Ltd (HDIL), Man Infraprojects, RNA Corp, and Lavasa Corp, among others. 

MahaRERA has been vigilant in monitoring real estate projects and verifying the status of these projects to ensure transparency. The authority has published the list of insolvent projects on its website, urging potential buyers to review it before making any purchasing decisions. This follows a similar list released in April 2023, which proved helpful to many homebuyers.

Manoj Saunik , Chairman, MahaRERA emphasised the importance of safeguarding homebuyers' investments and preventing them from falling into deceptive deals. 

The insolvent projects are spread across various regions in Maharashtra, including Mumbai, Pune, Thane, Palghar, Solapur, and Nagpur, with varying levels of investment and bookings.

Homebuyers are urged to check MahaRERA's updated list to avoid potential financial risks.

(ET)


The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a warning to homebuyers, advising them to avoid purchasing properties in 314 housing projects currently undergoing insolvency proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) of 2016.The Corporate Insolvency Resolution Process (CIRP) was initiated against these projects by banks, financial institutions, and other creditors. Among the 314 projects, 56 are ongoing, with over 34% of apartments already registered. Additionally, 194 projects have lapsed, with 61% property registration, while 64 projects are completed, with 84% of apartments registered.Prominent real estate developers involved include Wadhwa Buildcon LLP, Housing Development & Infrastructure Ltd (HDIL), Man Infraprojects, RNA Corp, and Lavasa Corp, among others. MahaRERA has been vigilant in monitoring real estate projects and verifying the status of these projects to ensure transparency. The authority has published the list of insolvent projects on its website, urging potential buyers to review it before making any purchasing decisions. This follows a similar list released in April 2023, which proved helpful to many homebuyers.Manoj Saunik , Chairman, MahaRERA emphasised the importance of safeguarding homebuyers' investments and preventing them from falling into deceptive deals. The insolvent projects are spread across various regions in Maharashtra, including Mumbai, Pune, Thane, Palghar, Solapur, and Nagpur, with varying levels of investment and bookings.Homebuyers are urged to check MahaRERA's updated list to avoid potential financial risks.(ET)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code