Pune, 24th June 2023: A total of 41 housing projects in Pune have submitted applications for cancellation of registration to the Maharashtra Real Estate Regulatory Authority (Maharera). This comes after Maharera issued a circular on February 10, stating that the registration of non-viable housing projects could be canceled under certain conditions.
Since then, the number of cancellation proposals in Pune has been steadily increasing. As of now, there are 41 projects seeking cancellation, compared to 39 projects at the end of May. The complete list of these projects can be found on the Maharera website.
Across the state, the total number of projects seeking cancellation was 88 before May. However, an additional 19 proposals have surfaced, bringing the overall count to 107 projects.
Initially, the deadline for filing objections against the 88 projects was set for June 17. Maharera has now extended this deadline by 15 days to allow objections to be raised against the new 19 projects as well.
Maharera has urged individuals with objections to the deregistration of any of these 107 projects to submit their concerns within 15 days to [email protected].
Out of the 107 projects, 41 are located in Pune, 16 in Raigad, 12 in Thane, 6 in Palghar, 5 in Mumbai suburbs, 4 in Mumbai city, and 3 each in Sindhudurg, Parbhani, Nashik, Nagpur, Ch. Sambhajinagar, Satara, Kolhapur, with 2 each in Nanded, Latur, Ratnagiri, Solapur, and Dadra Nagar Haveli. Each region is affected by one project seeking cancellation.
Many housing projects initially registered with Maharera have encountered difficulties in their execution. Factors such as insufficient funds, financial unviability, ongoing court cases, family disputes, or new government planning notifications have hindered their progress. In cases where developers have multiple phased projects under a single registration number, specific stages may face challenges, necessitating the cancellation of registration for those phases. Moreover, if the cancellation impacts other parts of the overall project, Maharera requires consent from at least 2/3 of the allottees in that project.
Additionally, if the cancellation of registration is sought for a project that has outstanding registration dues, those dues must be settled, and the concerned parties must have no objection to the cancellation. Supporting documentary evidence must be provided with the deregistration application for thorough examination.
Considering the inability to complete these projects, maintaining their registration with Maharera is no longer beneficial for developers or any stakeholders involved. With the aim of protecting consumer interests, Maharera has initiated the process of canceling the registration of such projects while allowing a 15-day period for concerned parties to raise objections.
For the complete list of housing projects seeking cancellation, please refer to the Maharera website.
