MahaRERA Approves 1,060 Housing Projects: MMR and Pune Lead the Way

In a significant push to Maharashtra’s real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) approved 1,060 housing projects in the run-up to Gudi Padwa, one of the most auspicious occasions for property investment.

Of the total approvals, 486 projects were issued registration numbers, 426 projects were granted extensions based on developers’ requests, and corrections in 148 previously approved projects were permitted.

A day ahead of Padwa, MahaRERA processed 211 project applications in a single day by working round the clock. This included granting registration numbers to 124 projects, approving extensions for 53 projects, and allowing corrections in 34 proposals.

The approvals were facilitated by continuous efforts from the regulatory body’s team, including work undertaken during holidays.

Padwa is considered one of the 'three-and-a-half' auspicious mahurats and is regarded as a favourable time for investments, including the purchase of homes. In the real estate sector, launching projects during occasions such as Padwa, Dussehra, Diwali, and the New Year is a long-standing tradition. As a complete muhurat, Padwa is seen as particularly significant for initiating property-related decisions.

Out of these approved projects of 1,060, the maximum number of approvals is in the Mumbai Metropolitan Region (MMR) with 607 projects, followed by 321 in the Pune region, 63 in Khandesh, 50 in Vidarbha, 14 in Marathwada, and 5 in Dadra and Nagar Haveli.

Amongst districts, Pune takes the top position with 286 projects, followed by Mumbai Suburban with 196, Thane with 185, and Raigad with 110 projects, all with triple-digit figures.

The number of projects under the MMR included 196 for Mumbai Suburban, 185 for Thane, 110 for Raigad, 52 for Palghar, 42 for Mumbai City, 14 for Ratnagiri, and 8 for Sindhudurg. In the Pune region, the number of projects was 321, and the districts included 286 for Pune, 16 for Satara, 13 for Kolhapur, 5 for Sangli, and 1 for Solapur.

Khandesh had 63 projects, out of which 41 were in Nashik, 19 in Ahilyanagar, 2 in Jalgaon, and 1 in Dhule. Vidarbha had 50 approved projects, with 42 in Nagpur, 6 in Amravati, and 1 each in Chandrapur and Yavatmal. Marathwada had 14 approved projects, with 10 in Sambhajinagar, 2 in Nanded, and 1 each in Latur and Dharashiv. Besides, 5 projects were approved in Dadra and Nagar Haveli.

MahaRERA said that the approval is granted only after thorough scrutiny to ensure compliance with the prescribed legal, technical, and financial parameters. MahaRERA’s registration department continues to make efforts to process the applications efficiently while adhering to the regulatory standards.