Since 2017, a total of 3,065 realty projects across the state of Maharashtra, have been listed where developers cannot sell flats. The reason being the projects registration has expired.
By Varun Singh
The Maharashtra Real Estate Regulatory Authority in the year 2021, came out of with a list of total 456 realty projects across the state where developers cannot sell flats.
MahaRERA’s updated lapsed projects list has named realty projects from the year 2017 to 2021.
Before we go further let’s understand what actually is a lapsed project.
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.
The list contains 95 realty projects from the year 2017, the number stands at 491 real estate projects for the year 2018. In 2019 a whooping 1124 real estate projects were added to the lapsed project list.
In the year 2020, MahaRERA added 994 projects to the list.
And last year that is 2021 a total of 456 projects were barred from selling apartments.
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.
The list contains projects from all across the state and act as a ready reckoner for homebuyers interested in buying real estate.
The list is a clear piece of information of which project the homebuyer should avoid while buying a home.