Festive Surge: MahaRERA Approves 405 New Real Estate Projects
The Maharashtra Real Estate Regulatory Authority (MahaRERA) approved 405 new projects with registration numbers on the auspicious occasion of Dussehra. This is the first time such a large number of project approvals have been issued during the festival.
On the eve of Dussehra alone, 200 projects were granted certificates of approval. In line with developers’ submitted proposals, MahaRERA also granted timeline extensions and permitted corrections to existing projects.
In total, 809 applications were approved for new registrations, extensions, and corrections. Of these, 405 projects received new registration numbers, deadlines for 209 projects were extended, and 195 existing projects were granted correction approvals.
Pune city topped the list with 122 projects, followed by the Mumbai Metropolitan Region, which accounted for 197 projects. This included 63 from Mumbai city and suburbs, 58 from Thane, 41 from Raigad, 22 from Palghar, nine from Ratnagiri, and four from Sindhudurg.
Between April 25 and September 25, MahaRERA approved 4,940 project proposals. Of these, 2,039 were new housing projects granted registration numbers, while 1,748 received timeline extensions and 1,153 secured approvals for corrections.
In the real estate industry, the auspicious festive occasions of Dussehra and Diwali hold equal importance. Therefore, MahaRERA is ensuring that housing projects meeting the legal, technical, and financial criteria are granted the nod. For this, the entire registration department is making due efforts, the authority said in a statement issued on Thursday.
MahaRERA, established under the Real Estate (Regulation and Development) Act, 2016, serves as Maharashtra’s governing authority for real estate. It aims to ensure transparency and accountability in property transactions while safeguarding the interests of homebuyers and developers alike.
