MahaRERA warns homebuyers against 314 insolvent housing projects
Real Estate

MahaRERA warns homebuyers against 314 insolvent housing projects

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a warning to homebuyers, advising them to avoid purchasing properties in 314 housing projects currently undergoing insolvency proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) of 2016.

The Corporate Insolvency Resolution Process (CIRP) was initiated against these projects by banks, financial institutions, and other creditors. Among the 314 projects, 56 are ongoing, with over 34% of apartments already registered. Additionally, 194 projects have lapsed, with 61% property registration, while 64 projects are completed, with 84% of apartments registered.

Prominent real estate developers involved include Wadhwa Buildcon LLP, Housing Development & Infrastructure Ltd (HDIL), Man Infraprojects, RNA Corp, and Lavasa Corp, among others. 

MahaRERA has been vigilant in monitoring real estate projects and verifying the status of these projects to ensure transparency. The authority has published the list of insolvent projects on its website, urging potential buyers to review it before making any purchasing decisions. This follows a similar list released in April 2023, which proved helpful to many homebuyers.

Manoj Saunik , Chairman, MahaRERA emphasised the importance of safeguarding homebuyers' investments and preventing them from falling into deceptive deals. 

The insolvent projects are spread across various regions in Maharashtra, including Mumbai, Pune, Thane, Palghar, Solapur, and Nagpur, with varying levels of investment and bookings.

Homebuyers are urged to check MahaRERA's updated list to avoid potential financial risks.

(ET)


The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a warning to homebuyers, advising them to avoid purchasing properties in 314 housing projects currently undergoing insolvency proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) of 2016.The Corporate Insolvency Resolution Process (CIRP) was initiated against these projects by banks, financial institutions, and other creditors. Among the 314 projects, 56 are ongoing, with over 34% of apartments already registered. Additionally, 194 projects have lapsed, with 61% property registration, while 64 projects are completed, with 84% of apartments registered.Prominent real estate developers involved include Wadhwa Buildcon LLP, Housing Development & Infrastructure Ltd (HDIL), Man Infraprojects, RNA Corp, and Lavasa Corp, among others. MahaRERA has been vigilant in monitoring real estate projects and verifying the status of these projects to ensure transparency. The authority has published the list of insolvent projects on its website, urging potential buyers to review it before making any purchasing decisions. This follows a similar list released in April 2023, which proved helpful to many homebuyers.Manoj Saunik , Chairman, MahaRERA emphasised the importance of safeguarding homebuyers' investments and preventing them from falling into deceptive deals. The insolvent projects are spread across various regions in Maharashtra, including Mumbai, Pune, Thane, Palghar, Solapur, and Nagpur, with varying levels of investment and bookings.Homebuyers are urged to check MahaRERA's updated list to avoid potential financial risks.(ET)

Next Story
Infrastructure Urban

Allcargo Gati Strengthens Doddaballapura’s Industrial Growth

Doddaballapura, once renowned for its silk sarees, has evolved into a major industrial hub, housing an Apparel Park and diverse manufacturing units producing textiles, paints, and machinery. The region’s strategic location and robust infrastructure have attracted national and international companies, boosting Karnataka’s economy.For the past four years, Allcargo Gati has been a key logistics partner, ensuring efficient distribution of goods across India. With a structured supply chain strategy—65 per ent to the north, 15-20 per cent west, 10-15 per cent east, and 5 per cent south—the c..

Next Story
Infrastructure Transport

Kolkata Metro to Suspend Green Line Services on March 8-9

The Kolkata Metro Railway has announced a complete traffic block on the East West Metro Corridor (Green Line) on March 8 and 9 for testing the Communication-Based Train Control (CBTC) system. Services will also be partially disrupted on the evening of March 7 and the morning of March 10. The Green Line, India’s first underwater metro tunnel and home to the country’s deepest metro shaft, runs from Howrah Maidan to Salt Lake Sector V. This line’s first phase was inaugurated in 2020 by then Railway Minister Piyush Goyal. Additionally, the Kolkata Metro recently introduced a paper ..

Next Story
Infrastructure Urban

India and Nepal Sign MoU to Strengthen WASH Sector Cooperation

India and Nepal signed a Memorandum of Understanding (MoU) on March 3, 2025, to enhance cooperation in the Water, Sanitation, and Hygiene (WASH) sector, including waste management. The signing ceremony took place at Sushma Swaraj Bhawan in New Delhi, attended by India’s Union Minister of Jal Shakti, CR Patil, and Nepal’s Minister of Water Supply, Pradeep Yadav. The agreement aims to foster collaboration between the two countries to improve access to clean drinking water and sanitation. It outlines key areas of cooperation such as capacity-building programs for Nepali personnel, techno..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?