MahaRERA has suspended registration of 248 projects including
The main cause for suspension of registration is non-compliance with the statutory requirement of updating their quarterly progress reports. The quarterly progress report details aspects such as:
These details should be clearly mentioned in the progress report and updated on the MahaRERA website. Accordingly, developers of projects registered in the month of February were required to update this information before 20th July. Similarly, developers of the projects registered in the month of March were required to update by 20th October. However, several projects did not update their information even after notices warning about suspension of registration of their projects were served.
To this the MahaRERA official said, “In all likelihood, the registration of these projects will be cancelled. But we have a process to be followed before cancelling the registration of these projects. We will have to inform the stakeholders of the projects example, the financiers, lenders of the project. We will have to make them aware and give them some time before we cancel the registration.
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