MahaRERA Approves 405 New Real Estate Projects in Festive October
The Maharashtra Real Estate Regulatory Authority (MahaRERA) approved 405 new housing projects in October, coinciding with the festive period hosting both Dussehra and Diwali this year. This marks the highest number of new project registrations cleared by the authority in a single month, reflecting a strong festive push by developers and a proactive approach from the regulator to streamline approvals.
On the day of Dussehra alone, over 200 projects received fresh registration certificates, a first in the history of MahaRERA. Including extensions and corrections, a total of 809 applications were approved in October. Of these, 405 were new project registrations, 209 were timeline extensions for ongoing projects, and 195 sought corrections to previously submitted project details. Officials noted that the registration team worked extended hours to ensure timely processing, supporting developers aiming for festive-season project launches. “The effort reflects MahaRERA’s focus on streamlining sanctions while maintaining strict compliance with legal, technical, and financial norms,” they said.
Among the newly registered projects, Pune city led, followed by the Mumbai Metropolitan Region (MMR):
- Pune city: 122 new project registrations - Mumbai Metropolitan Region (MMR): 197 approvals - Mumbai city and suburbs: 63 - Thane: 58 - Raigad: 41 - Palghar: 22 - Ratnagiri: 9 - Sindhudurg: 4
Other districts included:
- Satara: 6 - Kolhapur: 4 - Sangli: 4 - Solapur: 3
Officials highlighted that many developers plan project announcements around festive seasons due to their cultural and market significance. “Given the importance of Dussehra and Diwali in India’s real estate market, MahaRERA ensures that projects meeting all regulatory norms are approved on time,” said an official. This festive push also coincides with an uptick in both project registrations and revenue collections, indicating a positive trend in housing demand.
Between April and September 2023, MahaRERA approved a total of 4,940 project proposals, including 2,039 new housing registrations, 1,748 timeline extensions, and 1,153 corrections. These figures highlight the regulator’s consistent efforts in maintaining transparency, accountability, and efficiency within the state’s real estate sector. The authority, established under the Real Estate (Regulation and Development) Act, 2016, serves as the governing body overseeing property transactions in Maharashtra, protecting the interests of both homebuyers and developers.
Industry analysts say the record festive approvals are likely to encourage developers to expedite launches and buyers to invest during auspicious periods, boosting market activity. Timely registration not only reassures homebuyers about project credibility but also enhances overall confidence in Maharashtra’s real estate ecosystem.
