308 real estate projects in Maharashtra are undergoing insolvency proceedings at the National Company Law Tribunal (NCLT).
OF the 308 projects, 233 projects are in the Mumbai Metropolitan Region (MMR), this data is according to a list compiled by the Maharashtra Real Estate Regulatory Authority (MahaRERA).
MahaRERA, has started taking steps for micro control of all the projects, and as part of the same, it sourced the list of such projects under insolvency from the website of NCLT.
As per the information on the NCLT website collated by MahaRERA, various banks, financial institutions, and other credit providers have initiated insolvency proceedings against 308 real estate projects in Maharashtra.
MahaRERA, has published this information with names of the projects on their website, this is to ensure transparency and alert homebuyers to avoid being cheated.
“Hence, we are appealing to the citizens that they should go through this list before making a decision about home purchase,” read a statement issued by MahaRERA.
By clicking here you can have a look at this list, and save your investments.
Where are the projects?
According to MahaRERA, out of the total 308 projects under insolvency, 115 are ongoing, while registrations for 193 projects have lapsed.
Of the total 308 projects, 233 are in MMR, 63 in Pune, while Ahmednagar has five such projects, followed by four projects in Solapur, and one each in Ratnagiri, Chhatrapati Sambhaji Nagar, and Nagpur.
According to MahaRERA, out of the 115 ongoing projects, 32 have more than 50 percent booking, while 150 of the lapsed projects (out of the total of 193) have more than 50 percent booking.
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