RERA ROUNDUP
05 April, 2024/VOI. 2923
MahaRERA Registrations FY23-24:
Received 5,471 applications; approved 4,332 real estate projects.
Key Insights
- Leading Regions:
- Pune: 1,172 approved projects.
- Thane: 597 approved projects.
- Mumbai Suburban: 528 approved projects.
- Raigad: 450 approved projects.
- Nagpur: 336 approved projects.
- Nashik: 310 approved projects.
Mumbai Metropolitan Region (MMR) : had the highest number of new projects at 1,976.
- Western Maharashtra : 1,415 projects approved.
- Vidarbha: 437 projects approved, with Nagpur accounting for 336.
- Northern Maharashtra : 347 new projects, Nashik leading with 310.
- Marathwada : 149 new projects, with Aurangabad having 117.
- Additional Requirements: For Kalyan-Dombivali area, mandatory to get a ‘Commencement Certificate’ (CC) for MahaRERA registration.
- Scrutiny Process: Projects are scrutinized at three levels – legal, financial, and technical before approval.
- Pending Approvals : 1,139 projects still under scrutiny, awaiting error rectification for MahaRERA Registrations issuance.
Related:- Unlocking Transparency: MahaRERA’s Project Grading System Unveiled
Maharashtra RERA Takes Action: Cancels Home Buyers' Agreements in Pune
MahaRERA cancels home buyers’ agreements in Pune after developer complaint, citing failure to make timely payments, violating RERA Act.
This marks a significant shift as it’s the first instance where MahaRERA has cancelled home buyers’ agreements and instructed the registrar to take appropriate action.
Nine homebuyers instructed to cancel deeds by MahaRERA following complaint from GERA
Developments, citing partial payments and agreement non-compliance since 2019—2020.
The nine apartments, averaging 1,000 sq ft each, with payments ranging from 10 to 20% since 2019, posed challenges for the developer in selling or receiving balance payments.
MahaRERA instructed homebuyers to execute cancellation deeds within 30 days; failure could lead to developer filing non-compliance applications fpr further action”.
Violation of Section 19(6) of the RERA ACT, mandating timely payments specified in the sale agreement, led to the cancellation of home buyers’ agreements accordings to MahaRERA.
