Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has kept in abeyance the registration of 1,750 lapsed housing projects spread across the state. It has also initiated measures to take similar action against another 1,137 projects.
Of these 1,750 projects, maximum 761 projects are in Mumbai Metropolitan Region while 628 projects are in Pune region followed by North Maharashtra (135), Vidarbha (110), Marathwada (100), Dadra Nagar Havel (13) and Daman (3).
Mentioning that the proposed date of the project’s completion is mandatory for developers applying for MahaRERA registration, MahaRERA said that if the project is completed after this declared project completion date, the developer will be required to submit an Occupancy Certificate i.e. Form IV to the Authority. In case the project remains incomplete, the developer will have to initiate the registration renewal process. In the event of any challenges in starting the project, an application for the project’s de-registration is necessary.
If none of the above measures are taken by the developer, then such a project is declared as lapsed after its proposed completion date. Once a project is declared lapsed, its bank accounts are sealed. The developer is also barred from advertising and marketing besides selling and registering the flats.
Owing to such reasons, the MahaRERA issued a 30-day show cause notice to developers of 6,638 projects across Maharashtra. Of these, 3,751 projects have either submitted an Occupancy Certificate, or applied for renewal of registration, or filed for project cancellation. Of the remaining 2,887 projects, MahaRERA has kept 1,750 in abeyance and initiated steps to suspend 1,137.
“MahaRERA has always been striving to ensure that no customer is misled or cheated in any way during their entire process of buying a home. From the start of the project to its completion, all project-related information available with the developer should be made available to the homebuyer for a well-informed decision while buying a home. With this objective, MahaRERA, based on various regulatory provisions, is thoroughly monitoring the real estate sector at various levels. A dedicated Compliance Cell has been established for this purpose. It is mandatory to update the status of each project on MahaRERA’s website and insist on the submission of compliance reports within the stipulated timelines,” Chairperson of MahaRERA, Ajoy Mehta said.
The Authority has also urged homebuyers to be cautious while investing in any of these projects. The complete list of suspended projects is available on MahaRERA’s website.
PROJECTS KEPT IN ABEYANCE:
Konkan: 761
Mumbai City 48
Mumbai Suburb 115
Thane 182
Palghar 99
Raigad 216
Ratnagiri 77
Sindhudurg 23
Pune Region: 628
Pune 462
Kolhapur 36
Sangli 27
Solapur 24
Satara 79
North Maharashtra: 135
Nashik 87
Ahmednagar 32
Jalgaon 10
Dhule 3
Nandurbar 3
Vidarbha: 110
Nagpur 50
Amravati 24
Bhandara 2
Chandrapur 9
Gadchiroli 1
Wardha 7
Akola 8
Buldana 3
Yavatmal 6
Marathwada: 100
Chhatrapati Sambhaji Nagar 66
Beed 13
Jalna 7
Latur 5
Parbhani 5
Nanded 3
Hingoli 1
Dadra Nagar Haveli: 13
Daman: 3
