The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued notices to 10,773 real estate projects whose registrations have lapsed since May 2017. This stringent action aims to address non-compliance by developers who failed to update project progress or submit mandatory documents. The notice underscores the urgency of adhering to the Real Estate (Regulation and Development) Act, 2016 (RERA), which requires developers to maintain quarterly updates and ensure transparency in project timelines.
The Mumbai Metropolitan Region leads the list with 5,231 lapsed projects, followed by Pune with 3,406, Nashik with 815, and Nagpur with 548. Developers have been asked to submit an Occupation Certificate (OC) with Form 4 or apply for an extension supported by necessary documentation. MahaRERA warned of severe consequences for continued non-compliance, including suspension or cancellation of registrations, freezing of bank accounts, and halting property transactions linked to these projects. Chairman Manoj Saunik highlighted the authority’s micro-monitoring initiatives to enhance sector accountability.
From a civic perspective, lapsed projects reflect larger urban challenges, including delayed housing deliveries and strained public trust in real estate. With thousands of homes in limbo, many homebuyers are left uncertain about possession timelines, sparking widespread grievances. Cities like Pune and Mumbai, already grappling with housing shortages, face compounded issues as lapsed projects disrupt planned urban development. MahaRERA’s actions are a step towards instilling accountability in an industry plagued by delays.
Sustainability emerges as another critical angle in the conversation. Delayed projects often lead to prolonged resource use, waste generation, and environmental stress. The lack of progress on many projects could also impact urban ecosystems by leaving construction sites abandoned or neglected. MahaRERA’s mandate for regular updates and project completions aligns with the broader need for sustainable and transparent urban growth, ensuring resources are optimised while meeting housing demands.
