A total of 314 housing projects in Maharashtra are currently undergoing insolvency proceedings at the National Company Law Tribunal (NCLT), according to the Maharashtra Real Estate Regulatory Authority (MahaRERA). The regulator has made the list publicly available on its website to protect homebuyers from potential fraud.
These projects, registered with MahaRERA, include 56 ongoing, 194 lapsed, and 64 completed projects. The insolvency actions have been initiated by banks, financial institutions, and other creditors.
MahaRERA reports that significant investments have been made across these projects. Among the ongoing projects, approximately 34% of the apartments are registered. The lapsed projects have an average registration of over 61%, while the completed projects boast a registration rate of 84%.
To ensure transparency, MahaRERA has taken several measures to verify project statuses, compiling this list from various sources. This initiative aims to alert and guide homebuyers, encouraging them to consult the list before making any purchases.
Data Box:
- Total Projects Under NCLT: 314
- Ongoing Projects: 56 (34% registered)
- Lapsed Projects: 194 (61% registered)
- Completed Projects: 64 (84% registered)
- Regional Breakdown:
- Mumbai Region: 236 projects
- Pune: 52 projects
- Haveli: 9 projects
- Ahmednagar: 5 projects
- Solapur: 5 projects
- Nashik: 3 projects
- Nagpur: 2 projects
- Ratnagiri: 1 project
- Chhatrapati Sambhajinagar: 1 project
MahaRERA Speaks:
Chairman Manoj Saunik stated, “MahaRERA is consistently working to ensure that homebuyers’ investments remain safe and protected. The list of 314 projects undergoing insolvency is part of our efforts to alert homebuyers and prevent them from getting deceived.”
In April 2023, MahaRERA had released a similar list of 308 projects, which proved beneficial to numerous homebuyers. The authority urges all prospective buyers to review the current list before proceeding with any property purchases.
Also Read: Recovery Warrants Worth Rs 544 Cr Issued by MahaRERA
