By Varun Singh
In the first three months of the year 2022, MahaRERA came up with a list of lapsed projects lists. This lists consists of 648 realty projects.
The projects in the list are from almost all the districts of the state, but the highest number of lapsed projects are from Pune, followed by Raigad district.
What is a lapsed project?
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.
Registration is necessary, for any under construction project in the state, which wants to sell their homes to common public, or even for advertising of the project. A project that is under construction and is selling or advertising itself, then promoters of such project can invite the ire of the MahaRERA and even be penalised if found guilty.
Of the total 648 lapsed projects, the highest number of projects are from Pune, which stands at 146, then comes Raigad, with 82 projects, Thane stands a close third with 72 projects which have found their name in the list of the lapsed realty projects released by MahaRERA.
Mumbai city and Mumbai suburbs have a total 68 projects in the MahaRERA list of lapsed projects. The list is for the first three months of the year.
In 2021 the total lapsed project list had 1734 projects, the number was 755 in 2020, it was 904 in 2019 while 398 projects featured in the lapsed list of 2018, whereas 73 projects featured in the 2017 list.
A homebuyer before investing in any of the real estate projects across the state, should without fail visit this link on MahaRERA website 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.
Also Read: Builder asked to pay Rs 5,000 per day if fails to comply MahaRERA order in 2 months
