Pune Leads in Housing Project Violations as MahaRERA Gears Up for Suspensions
Pune district tops the list with nearly 500 non-compliant housing projects, leading as Maharashtra Real Estate Regulatory Authority (MahaRERA) prepares to suspend registrations of 1,905 projects across the state.
PuneMahareraReal EstateHousing ProjectsNoncomplianceReal Estate PuneJan 09, 2025
The authority has taken stringent actions, including imposing penalties, freezing bank accounts, and restricting property transactions to ensure financial discipline in the real estate sector.
Developers such as Kalyani Developers and Shree Datta Developers are among those facing action for not adhering to MahaRERA norms.
Pune is followed by Raigad, which has 240 non-compliant projects, and Thane with 204.
Mumbai Suburban and Mumbai City have 111 and 51 non-compliant projects, respectively.
MahaRERA has taken a proactive approach to address the issue of non-compliance.
It has served showcause notices to the developers of 10,773 lapsed projects, giving them 30 days to update their project status.
Out of these, 5,324 developers responded, with 3,517 submitting Occupancy Certificates (OCs) and 524 seeking deadline extensions.
Initially, MahaRERA identified 1,950 projects for suspension, but after reviewing the submitted documents, it withdrew action against 45 projects.
However, the registrations of the remaining 1,905 projects have been suspended.
This means that the developers' bank accounts for these projects have been frozen, and property transactions have been restricted to protect home buyers' interests.
MahaRERA has strict requirements for developers.
They are mandated to update their project status on MahaRERA’s website by submitting Quarterly Progress Reports (QPRs) and annual updates within the prescribed time frame.
Developers must also declare a proposed completion date at the time of registration and either adhere to it or apply for extensions.
Failure to comply can result in registration suspension, penalties, and transactional restrictions.
Speaking on the matter, MahaRERA chairman Manoj Saunik emphasized the importance of the Real Estate (Regulation and Development) Act, 2016, which aims to bring transparency and accountability to the real estate sector.
He stated, 'For this purpose, every housing project is required to update the project’s status on MahaRERA’s website periodically – quarterly and annually.
This keeps homebuyers informed about the project.
However, in practice, it has been happening to a limited extent.
In January 2023, a review by the Compliance Cell found that only 3 out of 748 projects had updated the required information.
After a series of follow-ups, there has been a significant improvement in the flow of information, as seen from the responses to the showcause notices.'
MahaRERA's actions are aimed at safeguarding the interests of homebuyers and ensuring a transparent and accountable real estate market in Maharashtra.
Frequently Asked Questions
How many non-compliant housing projects are there in Pune?
Pune has close to 500 non-compliant housing projects.
What actions has MahaRERA taken against non-compliant projects?
MahaRERA has taken actions such as imposing penalties, freezing bank accounts, and restricting property transactions.
How many projects have been identified for suspension by MahaRERA?
Initially, 1,950 projects were identified for suspension, but after reviewing documents, the number stands at 1,905.
What are the requirements for developers under MahaRERA?
Developers are required to update their project status on MahaRERA’s website with Quarterly Progress Reports (QPRs) and annual updates, declare a proposed completion date, and comply with deadlines or apply for extensions.
What is the purpose of the Real Estate (Regulation and Development) Act, 2016?
The Act aims to bring transparency and accountability to the real estate sector to safeguard the interests of homebuyers.
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