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)

Next Story
Building Material

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Next Story
Technology

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

Next Story
Infrastructure Urban

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?