Maharashtra Real Estate Regulatory Authority (MahaRERA) has said that it may revoke 291 project registrations with effect from November 10.
This comes after a September 2023 announcement suspending registration of 388 real estate projects in Maharashtra. This was owing to non-compliance and violations of the RERA Act, 2016, by the developers.
MahaRERA said that this decision comes because 291 of the 388 realtors have still not complied with the RERA provisions, despite the suspension notices. Owing to this, the action will be taken post November 10.
On the announcement of suspension, a few developers had taken the initiative to comply, bringing the list of suspensions to 363.
“Of this so far, 72 projects have complied and paid a penalty of Rs 50,000 each. The scrutiny of these compliance is under process. However, there are 291 projects yet to respond. If there is no response, by November 10, we may go ahead with revoking registrations of these projects thereafter,” said MahaRERA in a statement on October 09.
Last month MahaRERA had issued a notice of suspension of registration of 388 projects – and restricted their further sales, marketing or advertising for failing to comply with regulations on uploading details online. Sub-registrars were also directed not to register sale agreements and sale deeds of flats in the suspended projects. All these projects were registered in January 2023. The regulator’s decision was taken to enforce compliance with regulatory provisions on making details of the projects available on its website.
The MahaRERA had issued notices to non-complying projects registered in January 2023. According to MahaRERA, 746 projects were registered in January.
The developers had time until April 20, 2023 to upload details of their projects such as the number of flats, the funds received and the funds utilised, on the regulator’s website. However, many developers did not do this. Hence, notices were issued to all of them followed by suspension of registration and levy of Rs 50,000 penalty.
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