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 Energy

NTPC Signs $11.5 Billion Clean Energy Deals in Chhattisgarh

Juniper Green Energy has successfully commissioned a 100-MW solar power project aimed at supplying electricity to Bhutan, marking a significant milestone in regional energy integration. According to the company's statement, the project facilitates a crucial cross-border agreement allowing Bhutan to receive 50% of the power generated during the winter months. This arrangement permits Bhutan to directly import power from an Indian generator under an established bilateral trade framework. Located in Rajasthan, the solar project contributes a total generation capacity of 100 MW. Highlighting the..

Next Story
Infrastructure Energy

Juniper Green Commissions 100-MW Solar Project for Bhutan

The New Delhi Municipal Council (NDMC) held its first council meeting since the Delhi Assembly polls focusing on a comprehensive Summer Action Plan aimed at achieving 100% solar energy adoption by 2026. The meeting, led by MP Bansuri Swaraj, began with the swearing-in of three new NDMC members — Delhi Minister and New Delhi MLA Parvesh Sahib Singh, Delhi Cantt. MLA Virender Singh Kadian, and Ravi Kumar Arora, Additional Secretary of the Ministry of Housing and Urban Affairs. Solar Energy Push NDMC Vice Chairman Kuljeet Singh Chahal announced the civic body's ambitious solar energy plans, ..

Next Story
Infrastructure Energy

NDMC Pushes for 100% Solar Energy by 2026

Mumbai-based energy storage startup AmpereHour Energy has raised $5 million from Avaana Capital, with participation from UC Impower and other angel investors. Founded in 2017 by IIT Bombay alumni, AmpereHour Energy focuses on building AI/ML-enabled Energy Storage Systems ranging from kW/kWh scale systems for Mini-grids to MW/MWh scale systems compatible with solar PV and wind plants. The systems are designed to be plug-and-play, integrated with the company’s proprietary Energy Management platform, Elina. The fresh capital will be directed towards expanding manufacturing and software capabi..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?