Notices have been sent to developers whose projects, registered since May 2017, failed to update their project status or related information after the initially stated completion date. These developers are now required to submit the Occupation Certificate (OC) or request an extension for the delivery date.

MahaRERA has already taken action by suspending or canceling project registrations, freezing bank accounts related to these projects, and restricting the sale and purchase of flats.

Chairman Manoj Saunik explained that under the Real Estate (Regulation and Development) Act, 2016, developers must submit quarterly progress reports. If developers fail to submit an OC or seek an extension, MahaRERA is forced to suspend or cancel their registration, effectively blocking any transactions related to those projects.

The MMR region has the highest number of lapsed projects, followed by Pune, Nashik, Nagpur, and others. Developers are expected to meet regulatory requirements to avoid further action.