The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a decisive step by putting the registration of 1,750 housing projects on hold due to their lapsed status. This move aims to safeguard homebuyers and maintain the credibility of real estate developments across the state. Additionally, MahaRERA is initiating measures to suspend another 1,137 projects, emphasizing its commitment to regulatory oversight.

Among the 1,750 projects affected, the Mumbai Metropolitan Region leads with 761 projects, followed by the Pune region with 628 projects. Other regions impacted include North Maharashtra with 135 projects, Vidarbha with 110 projects, Marathwada with 100 projects, Dadra Nagar Haveli with 13 projects, and Daman with 3 projects.

MahaRERA urges homebuyers to exercise caution when investing in any of these projects. A detailed list of the suspended projects is available on the MahaRERA website, providing transparency and aiding informed decision-making for potential buyers.

Developers are required to declare a project completion date when applying for MahaRERA registration. If the project is completed after this date, they must submit an Occupancy Certificate (Form IV) to MahaRERA. If the project remains incomplete, developers must either renew the registration or apply for de-registration. Failure to take these steps results in the project being declared lapsed, leading to the sealing of its bank accounts and a ban on advertising, marketing, and selling the flats.

To address such issues, MahaRERA issued a 30-day show cause notice to developers of 6,638 projects across Maharashtra. Consequently, 3,751 projects have either submitted the required Occupancy Certificate, applied for registration renewal, or filed for project cancellation. For the remaining 2,887 projects, MahaRERA has kept 1,750 in abeyance and is initiating action against 1,137 more.

In the breakdown of the 1,750 projects kept in abeyance, the distribution across different regions is as follows, In Konkan, there are 761 projects affected, with Mumbai City accounting for 48 projects, Mumbai Suburb with 115, Thane with 182, Palghar with 99, Raigad with 216, Ratnagiri with 77, and Sindhudurg with 23. Moving to the Pune Region, there are 628 projects on hold, distributed among Pune with 462 projects, Kolhapur with 36, Sangli with 27, Solapur with 24, and Satara with 79. North Maharashtra is affected by 135 projects, with Nashik having 87, Ahmednagar with 32, Jalgaon with 10, Dhule with 3, and Nandurbar with 3 projects. In Vidarbha, 110 projects are suspended, with Nagpur leading at 50, followed by Amravati with 24, Bhandara with 2, Chandrapur with 9, Gadchiroli with 1, Wardha with 7, Akola with 8, Buldana with 3, and Yavatmal with 6. Marathwada has 100 projects in abeyance, with Chhatrapati Sambhaji Nagar having 66, Beed with 13, Jalna with 7, Latur with 5, Parbhani with 5, Nanded with 3, and Hingoli with 1. Additionally, Dadra Nagar Haveli has 13 projects affected, while Daman has 3 projects on hold.

MahaRERA Chairman Ajoy Mehta emphasized the authority's commitment to protecting homebuyers. "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," said Mehta.

He also highlighted the importance of transparency, noting that it is mandatory for developers to update the status of each project on MahaRERA's website and submit compliance reports within the stipulated timelines.

The measures taken by MahaRERA aim to bring accountability to the real estate sector and protect the interests of homebuyers. As the regulatory body continues to monitor and enforce compliance, these actions reflect its dedication to fostering a transparent and trustworthy real estate environment in Maharashtra.