Over 300 projects faces insolvency proceedings in Maharashtra
Real Estate

Over 300 projects faces insolvency proceedings in Maharashtra

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a warning to home buyers about 308 property developments in key property markets such as Mumbai and Navi Mumbai. Thane, Pune, and the rest of Maharashtra are undergoing insolvency or bankruptcy procedures.

Several banks, financial institutions, and other lenders have filed insolvency proceedings against the projects with the National Company Law Tribunal (NCLT).

The authority has underlined that 115 of these 308 initiatives are continuing, and that more than 50% of the inventory in 32 projects has been sold and registered. Although the registration of the remaining 193 projects has lapsed, and up to 50% of the merchandise in up to 150 of these projects has been sold and registered.

Less than half of the inventory is sold and recorded for the 83 ongoing projects and 43 completed projects.

Before making any decision, homeowners should conduct adequate due diligence and review the list of these projects on the MahaRERA portal. The list of these initiatives is published on the regulator's website as NCLT projects.

This list includes developer projects by Housing Development & Infrastructure Ltd (HDIL), Lavasa Corp, Radius Infra Holdings, Wadhwa Buildcon, DS Kulkarni Developers, RNA Corp, Shah Group Builders, Neev Group, and Marvel Realtors.

As part of the Close Monitoring System's permission, the regulator has begun to assess the projects that have been filed since its commencement.

It has also been assessing significant housing projects in the state for inconsistencies in spending and actual project completion status, and has recently red-flagged 313 such projects.

The authority has chosen a financial audit firm to analyze projects involving a large number of buyers and investors in order to ensure microcontrol.

As of January, MahaRERA had served show cause letters on 19,500 projects for failing to update project information as required by Section 11 of the Real Estate (Regulation and Development) Act 2016.

The regulator has begun to take steps to micromanage all projects. To accomplish this, it not only analyzes the material provided by developers on the MahaRERA website, but also attempts to comprehend the project's status from other sources.

The updated list of insolvent real estate projects is based on information received through the NCLT portal.

Because these projects have not been submitting or updating information about new registrations, bookings, and sales with MahaRERA on a quarterly basis, it is unclear whether they are still admitting new clients, according to the state real estate regulator.

MahaRERA has posted this full list on its website to ensure transparency and alert homebuyers.

A total of 100 of these 308 projects are located in Thane district, with the remaining 83 in Mumbai suburbs and 15 in Mumbai city. This list also includes 63 projects in the Pune district. This list also includes the districts of Palghar (19), Raigad (15), and Ahmednagar (5).

See also:
MahaRERA extends deadline for completion of 8 projects in Mumbai
Homebuyers ask MahaRERA for redress due to developers' non-compliance


The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a warning to home buyers about 308 property developments in key property markets such as Mumbai and Navi Mumbai. Thane, Pune, and the rest of Maharashtra are undergoing insolvency or bankruptcy procedures. Several banks, financial institutions, and other lenders have filed insolvency proceedings against the projects with the National Company Law Tribunal (NCLT). The authority has underlined that 115 of these 308 initiatives are continuing, and that more than 50% of the inventory in 32 projects has been sold and registered. Although the registration of the remaining 193 projects has lapsed, and up to 50% of the merchandise in up to 150 of these projects has been sold and registered. Less than half of the inventory is sold and recorded for the 83 ongoing projects and 43 completed projects. Before making any decision, homeowners should conduct adequate due diligence and review the list of these projects on the MahaRERA portal. The list of these initiatives is published on the regulator's website as NCLT projects. This list includes developer projects by Housing Development & Infrastructure Ltd (HDIL), Lavasa Corp, Radius Infra Holdings, Wadhwa Buildcon, DS Kulkarni Developers, RNA Corp, Shah Group Builders, Neev Group, and Marvel Realtors. As part of the Close Monitoring System's permission, the regulator has begun to assess the projects that have been filed since its commencement. It has also been assessing significant housing projects in the state for inconsistencies in spending and actual project completion status, and has recently red-flagged 313 such projects. The authority has chosen a financial audit firm to analyze projects involving a large number of buyers and investors in order to ensure microcontrol. As of January, MahaRERA had served show cause letters on 19,500 projects for failing to update project information as required by Section 11 of the Real Estate (Regulation and Development) Act 2016. The regulator has begun to take steps to micromanage all projects. To accomplish this, it not only analyzes the material provided by developers on the MahaRERA website, but also attempts to comprehend the project's status from other sources. The updated list of insolvent real estate projects is based on information received through the NCLT portal. Because these projects have not been submitting or updating information about new registrations, bookings, and sales with MahaRERA on a quarterly basis, it is unclear whether they are still admitting new clients, according to the state real estate regulator. MahaRERA has posted this full list on its website to ensure transparency and alert homebuyers. A total of 100 of these 308 projects are located in Thane district, with the remaining 83 in Mumbai suburbs and 15 in Mumbai city. This list also includes 63 projects in the Pune district. This list also includes the districts of Palghar (19), Raigad (15), and Ahmednagar (5). See also: MahaRERA extends deadline for completion of 8 projects in MumbaiHomebuyers ask MahaRERA for redress due to developers' non-compliance

Next Story
Infrastructure Urban

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Next Story
Infrastructure Energy

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Next Story
Real Estate

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement