The Maharashtra Real Estate Regulatory Authority (MahaRERA) has temporarily suspended the registration of 1,950 lapsed real estate projects across the state, a move aimed at protecting homebuyers. The regulatory body announced on January 9 that over 3,499 additional projects are likely to face similar action in the coming days.
This development follows MahaRERA’s issuance of show-cause notices in December 2024 to around 10,771 projects, predominantly located in the Mumbai Metropolitan Region, for failing to comply with statutory obligations. Developers were given a 30-day deadline to provide mandatory disclosures and update project details on the MahaRERA website.
So far, 1,283 developers have responded, with their submissions under review. However, developers of 3,499 projects have failed to respond, prompting MahaRERA to consider extending the suspension orders.
“MahaRERA is aware of the significant number of non-compliant projects and has initiated action to safeguard the interests of homebuyers,” said Manoj Saunik, Chairman of MahaRERA.
Under the Real Estate (Regulation and Development) Act, 2016, developers are required to regularly update the status of their projects on the MahaRERA portal, including submitting quarterly and annual progress reports. Non-compliance can result in penalties, de-registration, and restrictions on transactions related to the projects.
This large-scale crackdown signals MahaRERA’s commitment to ensuring transparency and accountability in the real estate sector, but it also raises concerns about the fate of thousands of homebuyers tied to these stalled projects.
