1547 New Real Estate Projects where Builders ‘Can’t Sell’
In a total of 3,371 real estate projects across the state of Maharashtra, developers cannot sell flats. The reason being the projects registration has expired.
By Varun Singh
The Maharashtra Real Estate Regulatory Authority has come up with a fresh list of projects of which registration has expired.
MahaRERA updated its lapsed projects list and has added real estate projects from the year 2020 and 2021 in the list.
The fresh list now contains many new real estate projects.
What is lapsed projects?
According to MahaRERA, lapsed projects are those of which, validity of MahaRERA Registration has expired.
What happens when a real estate project is put under Lapsed projects list?
The developer cannot advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any of these projects.
Earlier MahaRERA had updated the lapsed project list up to the year 2019. However, last week MahaRERA added fresh 1,547 names in the list for the year 2020 and 2021.
The list contains 103 projects from the year 2017, the number stands at 541 real estate projects for the year 2018. In 2019 a whooping 1180 real estate projects were added to the lapsed project list.
Now, fresh names have been added in the list. In 2020, MahaRERA added 1064 projects to the list and 2021 the number stands at 483 projects.
A homebuyer before investing in any of the real estate projects across the state, should without fail visit this link and check whether the project where they wish to buy the home isn’t mentioned in the lapsed project list.
A homebuyer invests his hard earned money while purchasing a home and lists like this, which are made easily available by MahaRERA.