MahaRERA Starts Scrutiny of Lapsed Projects
Real Estate

MahaRERA Starts Scrutiny of Lapsed Projects

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken serious action regarding the irregularities of lapsed housing projects by initiating a thorough scrutiny and issuing notices to approximately 11,000 such projects across the state, including more than 5,230 in the Mumbai Metropolitan Region (MMR).

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.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken serious action regarding the irregularities of lapsed housing projects by initiating a thorough scrutiny and issuing notices to approximately 11,000 such projects across the state, including more than 5,230 in the Mumbai Metropolitan Region (MMR). 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.

Next Story
Infrastructure Urban

What Industry Wants!

The construction industry is gearing up for Budget 2025 with high expectations. As one of India’s key economic drivers, the sector is eagerly anticipating reforms and policies to address pressing challenges such as high input costs, funding gaps, and sustainability demands. Industry leaders across real estate, infrastructure, construction materials, and logistics have shared their wishlists, urging the government to focus on GST rationalization, increased CAPEX, and green initiatives.This year’s budget presents an opportunity for the government to not only tackle existing bottlenecks but a..

Next Story
Infrastructure Urban

Messe Stuttgart, Startup India Tie-Up to Boost Funding

The logistics market in India is poised for significant growth, with a projected revenue of $357.3 billion by 2030. Despite this huge potential, a recent McKinsey & Company report highlights the decline in logistics funding following the pandemic that remains a significant concern. After receiving unprecedented funding of $25.6 billion in 2021, venture capital investment in logistics startups fell sharply to $2.9 billion in 2023—a nearly 90 per cent decrease, marking the lowest since 2015. This pullback from investors is attributed to several factors, including high interest rates, a glo..

Next Story
Infrastructure Transport

JK Tyre Strengthens Road Safety Commitment

Reinforcing its unwavering commitment to road safety, JK Tyre & Industries, a leader in the tyre manufacturing industry, partnered with the Delhi Traffic Police to organise a comprehensive Road Safety Awareness Week. This initiative, held as part of National Road Safety Month (January 1–31, 2025) spearheaded by the Ministry of Road Transport and Highways (MoRTH), aimed to foster responsible driving habits and reduce road accidents. Under the theme ‘Sadak Suraksha Jeevan Raksha,’ the initiative commenced on January 16, 2025, at the Delhi Police Traffic Training Park, BKS. The program feat..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000