MahaRERA Continues the Registration Suspension for 182 Realty Projects

MahaRERA Continues the Registration Suspension for 182 Realty Projects

MahaRERA keeps 182 real estate projects on hold for not updating reports, emphasising the need for transparency and responsibility.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has stood firm on its decision not to lift the suspension on the registration of 182 realty projects. These projects failed to adhere to regularly updating their quarterly reports.

Initially, promoters of 222 projects had sought to have the suspension lifted, claiming that they had both paid penalties and submitted the overdue progress reports. However, upon closer examination by MahaRERA, only 40 of these projects were found to be in compliance with all the conditions. As a result, MahaRERA has instructed the promoters of the remaining 182 projects to resubmit their information.

MahaRERA has also highlighted shortcomings in the reports that were submitted. This decision follows MahaRERA’s previous action in September when it suspended the registration of 363 projects due to missing updates.