The Maharashtra Real Estate Regulatory Authority (MahaRERA) has officially deregistered the residential project “Marvel Castella A and B Building” following a successful application by the promoters citing financial difficulties and lack of intent to proceed with construction.
In an order dated 26th May 2026, Member II Ravindra Deshpande allowed the deregistration of the project bearing RERA Registration No. P52100002438, promoted by Marvel Sigma Homes Private Limited and land-owning partner Runal Developers.
According to the order, the project had 22 allottees at the time of registration. The promoters submitted detailed proof that all allottees have been fully refunded and their bookings cancelled. Out of 22 allottees, 17 had executed registered Agreements for Sale, all of which were cancelled through registered cancellation deeds. The remaining 5 allottees, who had signed only booking forms, submitted affidavits confirming receipt of refunds and cancellation of bookings.
The Authority noted that six complaints were filed against the project, all of which have been disposed of — either through refunds with interest or withdrawal after settlement. The promoters also produced affidavits and Index-II documents as evidence of full and final settlement with every allottee.
MahaRERA had issued notices to all 22 allottees as well as a public notice inviting objections for deregistration. However, no allottee appeared for the hearings nor raised any objection. The public notice also received zero objections.
In its detailed reasoning, MahaRERA observed that the primary objective of the Real Estate (Regulation and Development) Act, 2016 is to protect homebuyers and ensure project completion. Since the promoters have no intention to develop the project and all homebuyers’ interests have been fully protected through refunds, continuing the registration served no purpose.
The Authority has strictly directed the promoters not to advertise, market, book, sell, or invite any bookings for the Marvel Castella project henceforth.
This order highlights MahaRERA’s pragmatic approach in closing non-viable projects where homebuyers have already been compensated, thereby cleaning up its registry of dormant projects.
Also Read: In A First MahaRERA Allows HomeBuyers To Complete A Stalled Realty Project
