In a major boost to Maharashtra’s real estate sector, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved 1,060 housing projects in the run-up to Padwa, one of the most auspicious occasions for property investment.
Padwa, considered among the three-and-a-half auspicious muhurats, is traditionally seen as a highly favourable time for home buying and project launches. Aligning with this sentiment, developers and regulators have accelerated approvals to tap into festive demand.
Breakdown of Approvals
Out of the total 1,060 projects approved:
- 486 projects were granted fresh registration numbers
- 426 projects received timeline extensions
- 148 projects were allowed corrections in earlier approvals
Last-Minute Push Before Padwa
In a notable effort, MahaRERA processed 211 applications in just one day ahead of Padwa, working round the clock, including on holidays.
This included:
- 124 new project registrations
- 53 project extensions
- 34 corrections approved
Region-Wise Distribution
The approvals are heavily concentrated in key real estate markets:
- Mumbai Metropolitan Region (MMR): 607 projects
- Pune Region: 321 projects
- Khandesh: 63 projects
- Vidarbha: 50 projects
- Marathwada: 14 projects
- Dadra & Nagar Haveli: 5 projects
Top Performing Districts
Certain districts saw particularly high activity:
- Pune district: 286 projects
- Mumbai Suburban: 196 projects
- Thane: 185 projects
- Raigad: 110 projects
These districts alone account for a significant share of total approvals, underlining their importance in Maharashtra’s housing market.
Detailed Regional Highlights
MMR (607 projects):
- Mumbai Suburban: 196
- Thane: 185
- Raigad: 110
- Palghar: 52
- Mumbai City: 42
- Ratnagiri: 14
- Sindhudurg: 8
Pune Region (321 projects):
- Pune: 286
- Satara: 16
- Kolhapur: 13
- Sangli: 5
- Solapur: 1
Khandesh (63 projects):
- Nashik: 41
- Ahilyanagar: 19
- Jalgaon: 2
- Dhule: 1
Vidarbha (50 projects):
- Nagpur: 42
- Amravati: 6
- Chandrapur: 1
- Yavatmal: 1
Marathwada (14 projects):
- Sambhajinagar: 10
- Nanded: 2
- Latur: 1
- Dharashiv: 1
Focus on Compliance and Scrutiny
MahaRERA emphasized that approvals are granted only after strict scrutiny of legal, technical, and financial parameters. The authority’s registration department has been working extensively to ensure that only compliant projects receive approvals.
What This Means for Homebuyers
The surge in approvals signals:
- Increased housing supply across key markets
- More options for homebuyers during festive season
- Continued momentum in Maharashtra’s real estate sector
With a strong pipeline of projects entering the market, developers are expected to actively launch and market these projects, especially during the festive period when buyer sentiment is typically high.
