MahaRERA initiates scrutiny of all lapsed projects

Regulatory authority issues showcase notices to about 10,773 housing projects, the most in MMR

In a move to crack the whip on errant builders, the Maharashtra Real Estate Regulatory Authority (MahaRERA) said it has so far issued show cause notices to 10,773 lapsed projects that were registered with the regulator since May 2017.

The notices have been issued to developers who have failed to update their project’s status and related information with MahaRERA even after the project’s completion date was initially submitted with the regulator.

MahaRERA said it has taken serious cognisance of this irregularity.

Of the 10,777 projects, the Mumbai Metropolitan Region (MMR), which includes Mumbai city, its suburbs, Thane, Kalyan, Navi Mumbai and the surrounding northern Konkan region, has the highest lapsed projects at 5,231, followed by Pune region with 3,406, Nashik 815, Nagpur 548, Sambhaji Nagar 511, Amravati 201, Dadra & Nagar Haveli 43 and Daman & Diu 18 projects.

The developers of the lapsed projects need to submit Occupation Certificate (OC) with Form 4 or seek extension of projects.

The application is to be supported with the requisite documents. In cases of such failures, MahaRERA may initiate strict action against the erring projects, the regulator said. 

Under this, so far, MahaRERA has initiated action by directly suspending or cancelling the project’s registration, imposing punitive action, issuing instructions to the Joint District Registrar directing not to register any purchase and sale of any flats in such projects.