57 Housing Projects Face Deregistration in Maharashtra: 25 from MMR
As many as 57 housing projects in Maharashtra are set to be deregistered by the Maharashtra Real Estate Regulatory Authority (MahaRERA). A significant portion of these projects, 25 in total, are located in the Mumbai Metropolitan Region (MMR).
MahareraReal EstateDeregistrationMumbaiHousing ProjectsReal Estate MaharashtraJan 24, 2025
Among these, nine projects belong to the Lodha Group and four to K Raheja Corp Real Estate.
Of the 57 projects, 25 are from the Mumbai Metropolitan Region (MMR), including Greater Mumbai.
Eight of the nine projects from the Lodha Group were registered before the onset of the COVID-19 pandemic.
Projects by the Lodha Group
The Lodha Group’s projects include
- Palava Verde’s A to E wings (registered in March 2019)
- Palava Fresca’s A and B wings (March 2019)
- Palava Verdana’s A to D wings (March 2019)
- Jasmine’s T wing (April 2019)
- Palava Fresca E to H wings (March 2019)
- Palava Allura’s C and D wings (December 2018)
Additionally, Macrotech Developers’ projects in Thane, namely Upper Thane Meadows A and E to G wings (all in March 2019) and Dombivli Arcade (March 2024), are also on the list.
Projects by K Raheja Corp Real Estate
K Raheja Corp Real Estate is scrapping
- Plumeria Viva (August 2023)
- Wisteria Viva (July 2023)
- Frangipani Viva (September 2023)
- Palash Viva (July 2023)
These projects are all located near Pune in the Pirangut area.
Other Prominent Projects
Other notable projects facing deregistration include
- Piramal Realty Limited’s Piramal Revanta Tower 5 in Mulund (registered in December 2023)
- Puranik Builders’ Puranik Tokyo Bay’s Phase 2C in Thane (March 2019)
- Lokhandwala Infrastructure’s LB One at Worli (August 2017)
- Mayfair Housing’s Mayfair Virar Gardens Buildings 17 to 19, 23A, 26, 27 (April 2022)
Reasons for Deregistration
According to MahaRERA’s rules, developers must provide reasons for deregistering a project.
These reasons can include lack of funds, litigation, no sale of flats, project becoming unviable, changes in government regulations, and internal disputes.
Developers must also ensure there are no homebuyers prior to deregistration.
If there are homebuyers, their rights and claims must be settled, including interest and compensation for inconvenience.
For larger projects, the consent of two-thirds of homebuyers is required, along with no-objection letters from each of them.
Developer Responses
When asked about the deregistration, a spokesperson from the Lodha Group stated, “As a normal course of business, the projects listed have been deregistered, as we have decided not to launch them.” K Raheja Corp Real Estate declined to comment, and Piramal Realty Limited did not respond.
Hindustan Times was unable to reach Puranik Builders, Mayfair Housing, and Lokhandwala Infrastructure for comments.
on MahaRERA
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016.
It aims to protect the interests of homebuyers and promote a transparent and fair real estate market in Maharashtra.
MahaRERA ensures that real estate projects comply with regulations and adhere to best practices, thereby fostering trust and confidence among homebuyers and developers.
Conclusion
The deregistration of these 57 housing projects highlights the challenges faced by developers in the real estate sector, particularly in the Mumbai Metropolitan Region.
The decision to deregister these projects underscores the importance of market viability and regulatory compliance, ensuring that homebuyers are protected and the real estate market remains stable and transparent.
Frequently Asked Questions
What is MahaRERA and its role in the real estate market?
MahaRERA, or the Maharashtra Real Estate Regulatory Authority, is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016. Its primary role is to protect the interests of homebuyers and promote transparency and fairness in the real estate market. MahaRERA ensures that real estate projects comply with regulations and follow best practices.
How many housing projects are up for deregistration with MahaRERA?
As many as 57 housing projects are up for deregistration with MahaRERA. Among these, 25 projects are from the Mumbai Metropolitan Region (MMR).
What are the reasons developers can provide for deregistering a project?
Developers can deregister a project due to lack of funds, litigation, no sale of flats, project becoming unviable, changes in government regulations, and internal disputes. They must also ensure there are no homebuyers or settle their rights and claims if there are.
What is the required consent for deregistering larger projects?
For larger projects, the consent of two-thirds of homebuyers is required, along with no-objection letters from each of them, before deregistration can proceed.
Which prominent developers are involved in the deregistration of projects?
Prominent developers involved in the deregistration of projects include the Lodha Group, K Raheja Corp Real Estate, Piramal Realty Limited, Puranik Builders, Lokhandwala Infrastructure, and Mayfair Housing.
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