MahaRERA Approves 405 New Housing Projects in Festive October
Pune: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved 405 new housing project registrations in the festive month of October, which included both Dasara and Diwali. MahaRERA officials announced on Thursday that this is the highest number of new project registrations they have cleared in a single month. Over 200 projects were approved on the day of Dasara alone, highlighting the authority's commitment to timely processing.
In total, 809 proposals have been cleared in October, including 405 fresh registrations, 209 extensions of ongoing projects, and 195 applications seeking corrections to project details. MahaRERA officials stated that the registration team has been working extended hours to ensure a timely processing of applications, supporting developers aiming for festive-season launches.
“The effort reflects MahaRERA's focus on streamlining sanctions and maintaining strict compliance with legal, technical, and financial norms,” the officials said. This commitment to efficiency and compliance is crucial in maintaining the integrity of the real estate market in Maharashtra.
Among the newly registered projects, Pune city leads with 122, while the Mumbai Metropolitan Region (MMR) has 197 — the highest for any region in the state. The MMR figures include 63 projects from Mumbai city and suburbs, 58 from Thane, 41 from Raigad, 22 from Palghar, nine from Ratnagiri, and four from Sindhudurg. Other regions like Satara, Kolhapur, Sangli, and Solapur have also seen a fair share of approvals, with six, four, four, and three projects respectively.
An official from MahaRERA noted that several projects were announced during the festive season and have followed all directions for registration. “Given the importance of Dasara and Diwali in the real estate market, MahaRERA ensures that projects meeting all regulatory norms are approved on time,” the official added. The festive push has coincided with an uptick in both project registrations and revenue collection, indicating a positive trend in the market.
“The demand is showing a positive trend and is likely to continue over the next two months. Developers understand that timely registration ensures smoother approvals and transactions,” said a member of Credai, Maharashtra. This positive outlook is supported by the data from the past six months, where MahaRERA approved 4,940 project proposals, including 2,039 new housing projects, 1,748 timeline extensions, and 1,153 corrections to existing projects, between April and September.
The continued growth in project registrations and the efficient processing by MahaRERA are key factors in maintaining a healthy and transparent real estate market in Maharashtra. This is particularly important during the festive season, when consumer interest in housing projects tends to peak, driving both sales and investments in the sector.
