Warning Issued by MahaRERA: 212 Housing Projects Launched After Jan 2023 Under Scrutiny


    Share post:

    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.

    Also read: What’s Behind the Surge in Home Sales in Chennai?

    Related Posts

    Latest posts

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi RERA 

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi...

    Healthcare Giant Narayana Hrudayalaya Invests in Bengaluru Real Estate: Southern Market on the Rise

    Bengaluru Real Estate: Narayana Hrudayalaya, a healthcare company, recently bought a piece of land in Bengaluru for a...

    The aspiring generation driving growth of the student housing segment

    Over the past decade, India’s education system has transformed immensely. This is further accentuated by the country’s technological...

    Commercial Integration – Reshaping India’s Residential Landscape

    - by Akash Pharande, Managing Director - Pharande Spaces One important feature changing how people live and work in India's fast urbanizing terrain is the...