MahaRera approves registration of 823 new projects this festive season

November 16, 2023: The Maharashtra Real Estate Regulatory Authority (MahaRera) has approved 823 new real estate projects during this festive season. Of these, 645 approvals were granted in October 2023, and 178 were granted from November 1-13, 2023, exceeding the 739 approvals granted in the festive season of 2022.

During the festive period of 2023, MahaRera processed a total of 1,622 new project applications. Of these, 1,208 projects applied for registration during the month of October, while the remaining 414 applied between November 1 and 13. However, only 823 projects met the stringent documentation criteria required for registration approval. The remaining projects could not secure registration due to inadequate documentation submitted with the applications. Of the 823 approved projects, 382 are in the Mumbai Metropolitan Region (MMR), 257 are in Pune, 77 in Nagpur, 57 in Nashik, 33 in Chhatrapati Sambhaji Nagar and 17 in Amravati.

Division-wise applications and approvals in October 2023

Division-wise applications and approvals from November 1-13, 2023 

During the festive period, which falls from October to December, developers rush to launch new housing projects. MahaRera has intensified scrutiny to prevent post-registration non-compliance by developers. The verification process includes checking for a separate bank account for investors, legal land ownership and necessary permissions from local planning authorities. Additionally, the authority has mandated the submission of the construction commencement certificate (CC) directly from local planning authorities’ designated email to further enhance the verification process.