MahaRERA approves 4,332 projects out of 5,471 in FY24

April 5, 2024: The Maharashtra Real Estate Regulatory Authority (MahaRERA) granted registrations to 4,332 new housing projects from the 5,471 applications it received in the last fiscal year that ended March 31, 2024, the regulatory body said in an official statement.

Number of MahaRERA registration region wise

• The Mumbai Metropolitan Region (MMR) that includes Mumbai, Mumbai Suburban, Thane and Raigad saw the highest number of project registrations with 1,976 new projects.

• Pune, Kolhapur, Solapur, Sangli and Satara saw the second-highest number of approvals with 1,415 approved projects.
• Vidarbha saw approval of 437 projects including 336 projects in Nagpur.
• Of the total 347 approved new projects in North Maharashtra, Nashik had 310 projects.
• Marathwada had 149 projects including 117 from Aurangabad.
• The MahaRERA also approved 8 new projects in Dadra and Nagar Haveli.

The remaining 1,139 project applications that have not got approvals are under scrutiny by the MahaRERA. Once the promoters provide the needed documents and make the required corrections, these projects will also be granted MahaRERA registration.

MahaRERA to protect buyer interests by ensuring compliance and project completion on time grants the MahaRERA registration only after completing the three level scrutiny- legal, financial and technical. Also, with irregularities identified in the projects in the Kalyan-Dombivali area, the MahaRERA has made it mandatory for developers in this region to get copy of ‘Commencement Certificate’ (CC) from the concerned planning authorities when they apply for MahaRERA registration.