The Maharashtra Real Estate Regulatory Authority (MahaRERA) announced on November 20 that it has suspended the registration of 248 projects, including three government projects overseen by the Maharashtra Housing and Area Development Authority (MHADA). The regulatory body has imposed restrictions on these projects, prohibiting any further sales, marketing, or advertising activities due to their failure to comply with regulations pertaining to the uploading of project details online.
Cause of suspension: failure to adhere to requirement of uploading quarterly progress reports on website
The suspension comes as a result of the projects' failure to adhere to the requirement of uploading quarterly progress reports (QPR) on the MahaRERA website. In February 2023, a total of 700 projects were registered, and out of these, 248 projects faced suspension for non-compliance with the QPR uploading regulations.
Affected projects include 3 MHADA ones
Among the affected projects, three are government initiatives under the MHADA's Pune and Aurangabad boards. These projects include two in Pune district and one in Beed district, as per the list released by MHADA. At present, MHADA is yet to provide a response to the suspension.
This recent development follows MahaRERA's actions in September 2023, where registrations of 388 projects registered in January 2023 were suspended. MahaRERA is actively pursuing the deregistration of projects that fail to comply with its regulations. The regulatory authority has also taken a similar stance with projects registered in March 2023, issuing notices to 224 projects for non-compliance. Stringent action will be taken against those projects that continue to disregard the regulations even after receiving notices.
