MahaRERA Takes Strict Action: 1,905 Housing Projects Suspended for Non-Compliance
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has suspended 1,905 housing projects across the state due to non-compliance. Developers who did not respond to notices regarding project status updates are facing severe consequences.
MahareraHousing ProjectsNoncomplianceReal EstateMaharashtraReal Estate MaharashtraJan 09, 2025
This move is aimed at ensuring transparency and protecting the interests of home buyers.
The suspension includes 51 projects in Mumbai and 111 in its suburbs.
Pune leads with the highest number of suspensions at 487, followed by Raigad (240) and Thane (204).
As part of the crackdown, the bank accounts of these developers have been frozen.
MahaRERA initially issued show cause notices to 10,773 developers whose projects had missed completion deadlines without informing the regulator.
Out of these, 5,324 developers responded, with 3,517 submitting their Occupancy Certificates and 524 requesting deadline extensions.
Currently, 1,283 responses are under review.
However, developers of 3,499 other projects have failed to respond, and similar suspensions are being considered for them.
Manoj Saunik, the chairman of MahaRERA, stated, 'We are aware that the number of projects that have not responded is significant, and we have initiated action against such projects to protect home buyers' interests.' According to the Real Estate (Regulation and Development) Act, 2016, developers are required to regularly update project status on the MahaRERA website, including submitting quarterly and annual progress reports.
Non-compliant developers face potential de-registration, penalties, and restrictions on selling or purchasing flats in their projects.
The suspension orders were initially issued against 1,950 projects, but the orders against 45 projects were later withdrawn.
This indicates that MahaRERA is not only strict in its enforcement but also open to reconsidering cases based on new information or compliance efforts.
MahaRERA's actions are part of a broader effort to bring transparency and accountability to the real estate sector in Maharashtra.
The regulator has been proactive in ensuring that developers adhere to the rules and that home buyers are not left in the lurch due to delays or non-compliance.
This move is expected to set a strong precedent and encourage developers to be more responsible and transparent in their operations.
Frequently Asked Questions
How many housing projects were suspended by MahaRERA?
MahaRERA has suspended 1,905 housing projects across the state.
What is the reason for the suspension of these projects?
The projects were suspended because their developers did not respond to notices regarding project status updates and missed completion deadlines.
Which city has the highest number of suspended projects?
Pune has the highest number of suspended projects at 487.
What actions has MahaRERA taken against non-compliant developers?
MahaRERA has frozen the bank accounts of non-compliant developers and is considering potential de-registration, penalties, and restrictions on selling or purchasing flats.
What is the Real Estate (Regulation and Development) Act, 2016?
The Real Estate (Regulation and Development) Act, 2016, is a law that mandates developers to regularly update project status on the MahaRERA website, including submitting quarterly and annual progress reports. Non-compliant developers face severe penalties.
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