June 6, 2023: The National Company Law Tribunal (NCLT) list prepared by MahaRERA is updated frequently. As per an advisory issued by MahaRERA, the names of promoter and their projects shall be deleted from the NCLT list prepared by MahaRERA upon promoters submitting certified copies of the order delivered by the tribunal/court in the Corporate Insolvency Resolution Process (CIRP) proceedings. This document will show that the said proceedings have been withdrawn/settled/dismissed/disposed.
This will be subject to such order being uploaded on the website of Insolvency and Bankruptcy Board of India.
308 realty projects staring at insolvency: MahaRERA
April 27, 2023: A list published by RERA Maharashtra on April 26, 2023, showed 308 real estate projects are facing National Company Law Tribunal’s (NCLT) insolvency proceedings. A corporate insolvency resolution process (CIRP) has been initiated against each of these developers under the Insolvency and Bankruptcy code, 2016 .
The list can be seen on https://maharera.mahaonline.gov.in/Site/1163/NCLT-Projects .
With this, MahaRERA aims to warn homebuyers from getting affected by investing in the properties that are under NCLT proceedings.
Of these 308 real estate projects, 115 projects are ongoing, and 32 projects have more than 50% booking. Meanwhile, 193 projects have lapsed. Of this, around 150 projects have more than 50% booking.
Of this total, 233 projects are in the Mumbai Metropolitan Region (MMR), 63 projects in Pune, five in Ahmednagar, four in Solapur and one each in Ratnagiri, Nagpur and Aurangabad.
With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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