The Maharashtra Real Estate Regulatory Authority (MahaRERA) has expressed concerns about more than 212 housing projects launched between January and April 2023. These projects have not provided any information about their construction progress to the housing regulator, raising doubts about their status.
After registering with MahaRERA, developers are required to submit Quarterly Progress Reports (QPR) on the regulator’s website. However, many developers have not complied with this requirement, showing a lack of seriousness towards their projects and regulations.
To warn potential homebuyers, MahaRERA has published a list of these projects on its website, categorized by district. Pune city has the highest number of such projects, followed by Nashik, Palghar, Thane, Raigad, Sambhaji Nagar, and Nagpur.
The Mumbai Metropolitan Region (MMR) and Konkan region have the most projects with incomplete progress reports, followed by Pune, North Maharashtra, Vidarbha, and Marathwada.
According to regulations, developers must submit quarterly and annual statement forms to MahaRERA and update them on the website. This helps monitor construction progress and expenses, and allows homebuyers to access project-related information.
Out of 2,369 projects registered between January and April 2023, 886 had not submitted Quarterly Progress Reports. Notices were issued to these projects, and penalties were imposed on 672 projects. Despite penalties, 244 projects still did not update their reports. Efforts are underway to ensure compliance from these projects.
In total, 212 projects have not responded to communications from MahaRERA, with 60 registered in January 2023, 58 in February 2023, 40 in March 2023, and 56 in April 2023.
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