Real Estate Maharashtra

RERA at 10: FPCE seeks overhaul, Rs 12.44 lakh crore stuck in delayed projects

By GeoSquare News Desk · Published 2026-11-03

As the Real Estate (Regulation and Development) Act, or RERA, completes a decade, the Federation of Property Owners and Consumers' Association (FPCE) has urged Prime Minister Narendra Modi to overhaul the legislation. The body claims that a staggering Rs 12.44 lakh crore remains trapped in delayed development projects across the country, affecting lakhs of homebuyers.

Key Demands

The FPCE has called for a comprehensive review of the Act to address systemic delays and ensure timely delivery of projects. The association argues that the current framework has not been effective in preventing builders from defaulting on commitments, leaving buyers in limbo for years. It has sought stricter penalties, faster dispute resolution, and a more robust mechanism for refunds and compensation.

Impact on Maharashtra

Maharashtra, being one of the largest real estate markets, has a significant share of stuck projects. The state's MahaRERA has been proactive in registering projects, but the sheer volume of delays continues to worry investors. The FPCE's appeal to the Prime Minister underscores the need for a national-level overhaul to bring uniformity and accountability across states.

For property buyers and investors in Maharashtra, the outcome of this push could mean quicker resolutions and better protection of their hard-earned money. As the industry awaits a response, the demand for a more buyer-friendly RERA remains a critical issue for the sector's long-term health.