November 22, 2023: The real estate regulatory authority of Maharashtra (MahaRERA) on November 20, 2023 suspended registration of over 248 realty projects. This also includes three projects that were to be developed by the Maharashtra Housing and Area Development Authority (MHADA).
The regulator has taken this action owing to these projects failing to update their quarterly progress report (QPR) by July 20, 2023. It is mandatory to upload the QPR on the MahaRERA website so that homebuyers are abreast of the construction status.
Of the 248 projects, 99 cancelled projects are in the Mumbai Metropolitan Region (MMR) and Konkan, 69 projects are in western Maharashtra, 28 in north Maharashtra and 40 in Vidarbha.
On the same lines, the MahaRERA has already issued notices to around 224 projects of the total 443 projects that were registered in March 2023. These projects were directed to update the QPR by October 20, 2023. Similar suspension action will be taken against projects that don’t comply with the regulation.
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