Policy Tweak to Support Affordable Housing

The 10% discounted sand quota for Pradhan Mantri Awas Yojana (PMAY) and other government housing schemes will continue, ensuring that affordable housing projects receive sand at concessional rates.

Under the earlier system, contractors were required to supply 10% of their excavated sand at a nominal price to PMAY projects—often absorbing the cost themselves. This discouraged participation in auctions and led to supply bottlenecks.

The new policy changes this by revising the “upset price” calculation. Now, upset price will be determined as:

90% of total excavable sand × prevailing market price

This ensures the discounted quota is factored in upfront, protecting contractor margins while maintaining concessional supply for affordable housing. It’s expected to keep construction costs stable for government-backed projects, benefiting low- and middle-income homebuyers.

Shorter Lease Periods for Environmental Protection

One of the most notable reforms is the reduction of sand auction lease periods from 2–3 years to just 1 year for both river and creek sand blocks.

Earlier, contractors often over-extracted sand after the first year, leading to:

• Depletion of riverbeds,
• Illegal mining beyond approved limits, and
• Revenue loss for the state.

By capping leases at 1 year, the government aims to:

• Improve environmental monitoring,
• Prevent over-extraction and stockpiling,
• Reset auction prices annually to reflect market conditions.

Centralized e-Auctions for Transparency

The policy introduces annual e-auctions to bring greater transparency and efficiency:

• For river sand, one combined e-auction per sub-division will be held annually.
• For creek sand, the Maharashtra Maritime Board will conduct block-wise e-auctions.

This centralized approach is expected to curb cartelisation, reduce manipulation, and ensure fair competition among bidders.

Key Policy Changes at a Glance

Why It Matters for the Common Man

For homebuyers, especially those looking at PMAY or EWS housing, this policy ensures that project costs remain contained, as sand remains available at concessional rates.

For individual home builders, annual auctions and transparent pricing could mean more stable sand prices and less dependence on black-market sand, which often inflates construction costs.

Environmentally, shorter leases are expected to reduce over-mining pressure on river systems, aligning the policy with sustainable resource use.

Also Read: Why Are Thousands Rushing to Apply for the MHADA Konkan Lottery

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No change in property tax rates
For homebuyers, the tax burden on property remains the same. Affordable housing continues at 1% GST, under-construction projects at 5%, and completed properties remain exempt. This offers much-needed stability and avoids confusion for buyers planning their purchase.

Construction material becomes cheaper
The big relief is on construction inputs:

• Cement: GST slashed from 28% to 18% (accounts for 25–30% of construction costs).
• Marble, granite, stone bricks: Reduced from 12% to 5%.
• Steel: Remains unchanged at 18%.

These changes are expected to lower overall construction costs by 3.5–4.5%, improving project viability and potentially enhancing affordability if developers pass on the benefits.

Impact on housing categories

• Affordable and mid-income housing: Likely to benefit the most, with lower input costs encouraging developers to launch new projects.
• Premium housing: Reduction in marble and granite GST will particularly support cost efficiency here.
• Homebuyers: With no tax hikes and potential cost savings, buying decisions are unlikely to be deferred.

Overall, the reforms are being seen as a marginally positive step for the real estate sector—especially if the savings get shared with buyers.

Also Read: Homebuyers to Benefit as GST on Cement, Building Materials Cut From Sept 22

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While the cumulative value growth of the top 150 Indian real estate companies saw a more subdued 14% increase this year, reaching a formidable ₹16 lakh crore (USD 188 billion), the resilience of the market’s leading players remains undeniable. This growth, though lower than the previous year’s surge of 70%, underscores the sector’s long-term potential, especially with a strong rebound noted in the latter half of the reporting period driven by stable interest rates and robust housing demand.

India’s Wealthiest Real Estate Leaders

The report meticulously identifies and quantifies the wealth of the wealthiest individuals at the helm of India’s real estate empires. Topping this prestigious list is:

1. Rajiv Singh (DLF): With a wealth of ₹1,27,610 Crore, Rajiv Singh of DLF leads the list, maintaining his top position with a 3% rise in wealth over the last year. He continues to lead DLF, India’s most valuable real estate company, from New Delhi.
2. Mangal Prabhat Lodha & family (Lodha Developers): Holding the second rank with ₹92,340 Crore in wealth, the Lodha family recorded a modest 1% increase over the year. Based in Mumbai, they lead Lodha Developers, which has shown consistent momentum.
3. Gautam Adani (Adani Realty): Ranking third, Gautam Adani’s real estate wealth stands at ₹52,320 Crore, despite a 7% decline. Adani Realty remains the most valuable unlisted real estate firm in the country.
4. Vikas Oberoi (Oberoi Realty): Retaining fourth place, Vikas Oberoi’s wealth increased by 5% to ₹46,950 Crore.
5. Basant Bansal & family (M3M India): Making a powerful re-entry into the top five, their wealth is ₹37,390 Crore. M3M India has shown one of the most dramatic valuation jumps this year.
6. Atul Ashokkumar Ruia & family (The Phoenix Mills): Ranked sixth with ₹26,410 Crore, their wealth rose by 10%.
7. Raja Bagmane & family (Bagmane Developers): Securing the seventh position with ₹25,270 Crore in wealth, they showed a remarkable 29% growth, the highest among the top 10.
8. S Subramanyam Reddy (Aparna Constructions & Estates): Ranks eighth with a wealth of ₹18,690 Crore.
9. C Venkateswara Reddy (Aparna Constructions & Estates): Follows closely in ninth with ₹18,490 Crore in wealth.
10. Irfan Razack & family, Noaman Razack & family, Rezwan Razack & family (Prestige Estates Projects): Each sharing the tenth position with a wealth of ₹14,510 Crore, reflecting a 4% increase.

Leading Companies and Their Valuations

Beyond individual wealth, the report also highlights the companies that are driving the sector’s overall valuation.

• DLF retains its coveted title as India’s most valuable real estate company, boasting a valuation of ₹2,07,400 Crore, growing 2.6% over the past year.
• Lodha Developers holds the second position with a substantial value of ₹1,38,200 Crore, up 1.1% from last year.
• Indian Hotels Company (IHCL) makes a notable ascent to the third spot with a valuation of ₹1,08,300 Crore, following a significant 36.8% rise in value.

Key Trends Shaping the Sector

The report uncovers several pivotal trends shaping the future of Indian real estate. A remarkable 63 new companies made it to the list this year, with 29 directly entering the Top 100. Notably, OYO debuted directly into the Top 15, and Adani Realty re-emerged as the most valuable unlisted real estate company.

There’s a discernible shift towards professional management, with 33 of the top 150 companies now led by professional CEOs who do not hail from the founding family. The report also highlights the increasing presence of women leaders, with four companies on the list led by women.

In terms of sectoral focus, residential real estate remains dominant, accounting for 67% of the companies, while hospitality and commercial sectors each represent 15%. Geographically, Mumbai continues to reign as the real estate capital with 42 companies, followed by Bengaluru (23) and New Delhi (16), though a trend towards nationalization is evident with 60% of companies operating beyond their home state and 17 having a global presence.

Market Dynamics and Outlook

Despite an early 2025 period marked by geopolitical tensions and rising input costs, the Indian real estate sector demonstrated remarkable resilience, experiencing a strong rebound between May and June. This recovery was largely propelled by stable interest rates, sustained housing demand across various segments, and the easing of cement prices.

The report also notes a growing emphasis on brand building by Indian developers, moving beyond mere square footage to create aspirational brands through luxury partnerships and lifestyle-centric developments. The recent success of IPOs further underlines growing investor appetite for Indian real estate, with the number of listed companies jumping from 48 to 65 this year.

In conclusion, the “2025 GROHE – HURUN INDIA REAL ESTATE 150” report provides an invaluable snapshot of India’s real estate prowess, celebrating its leaders and outlining the dynamic forces that will continue to shape its trajectory in the coming years.

Also Read: CREDAI-MCHI Launches Exhibition to Streamline Redevelopment in Mumbai

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The biggest fear for any homebuyer in India is that the builder will delay or default. That fear isn’t unfounded—hundreds of projects were delayed or stalled in the last decade due to bad finances, over-leverage, or funding crunches post NBFC crisis and COVID. But this is changing.

Indian real estate is undergoing a silent transformation.

Builders, especially listed ones, have restructured their debt, improved profitability, and regained the trust of banks and investors. What this means for the average homebuyer is simple yet powerful:
Lower risk of delays
More financially sound developers
Better delivery timelines and completion assurance

This report by Colliers India presents strong data-backed evidence that financial discipline is now a defining strength of the sector—and that’s good news for homebuyers.

Credit Confidence: Bank Lending to Real Estate Doubled Since FY21

A key indicator of this transformation is the willingness of banks to lend to the real estate sector again. The loan book for real estate has doubled in four years, growing from ₹17.8 lakh crore in FY 2021 to ₹35.4 lakh crore by FY 2025.

Table 1: Growth in Bank Lending to Real Estate

Source: RBI, Colliers India

Quote:

“The strong financial health of the sector is demonstrated by significantly higher credit rating upgrades and increased exposure from banks. Lenders see real estate as less risky now.”
— Badal Yagnik, CEO, Colliers India

NBFCs Slow, But Not Out

While NBFCs have become cautious since the 2018 crisis, their credit book has still grown in absolute terms.

Table 2: NBFC Lending to Real Estate

Note: Data till September 2024. Includes mid and upper layer NBFCs.

Builders Are Profitable Again — And That Makes Them Safer

The financial discipline isn’t just about debt—it’s about how much profit builders are generating and how much debt they carry.

In FY 2021, only 23% of top 50 listed real estate companies had net profit margins above 10%. By FY 2025, that number had nearly tripled to 62%. Similarly, the share of low-debt companies (debt-to-equity < 0.5) rose from 43% to 62%.

Table 3: Financial Health Metrics – FY 2025 vs FY 2021

Source: Colliers India, based on top 50 listed companies

Quote:

“More than 60% of large real estate players now have a debt-to-equity ratio below 0.5, showing how balance sheets are being cleaned up.”
— Colliers India Report

Credit Ratings Surge: 23:1 Ratio of Upgrades to Downgrades

Perhaps the strongest sign of transformation: credit rating upgrades.

While most sectors have seen a mix of upgrades and downgrades post-COVID, real estate has witnessed a 23:1 ratio of rating upgrades to downgrades in H2 FY 2025 — a signal of revived lender and investor trust.

Table 4: Credit Rating Upgrade/Downgrade Ratio

Source: Leading CRA, Colliers

Real Estate IPO Boom – ₹400 Billion Raised Since 2021

Builders are not just borrowing—they’re also raising money through the equity market. This helps them reduce debt further and increase transparency.

In 2024 alone, 9 real estate IPOs raised ₹138 billion. So far in 2025, 7 IPOs have raised ₹76 billion — showing continued momentum.

Table 5: Real Estate IPO Activity

Note: *Till July 2025

Quote:

“The surge in public listings—across flex spaces, REITs, hospitality, and residential—indicates deepening investor faith in the sector’s long-term fundamentals.”
— Vimal Nadar, Head of Research, Colliers India

What This Means for Homebuyers

More dependable builders — reduced chances of default or delay
Faster project execution due to better cash flow
More options to invest, including via REITs & SM-REITs
Better loan availability, as banks now view real estate as lower risk

What to Watch Out For

Even as the sector matures, homebuyers should be cautious of:

• Interest rate hikes that may affect home loan EMIs
• Unregulated or small developers with poor track records
• Legal clearances and land titles—financial health ≠ regulatory compliance

Conclusion

The Indian real estate sector has emerged as a more disciplined, de-leveraged, and creditworthy industry post-COVID. For homebuyers, this shift means greater trust, lower risk, and wider choice. The message is clear — the sector is safer than it has been in years, but due diligence remains key.

Also Read: FY25 Residential Real Estate Outlook: Demand and Price Growth to Moderate

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Agents from over 150 cities outside Maharashtra — including New Delhi, Gurgaon, Hyderabad, Bengaluru, Ahmedabad, Goa, Patna, Prayagraj, and Jammu — have also registered with MahaRERA, underlining Maharashtra’s position as a hub for property transactions.

 MahaRERA Agent Registration Overview

Maharashtra is the only state in India with such a wide registration base under RERA, reflecting growing transparency and accountability in the sector.

 Area-Wise Agent Registrations in Maharashtra

 Konkan Area (Total: 21,050 Agents)

 Pune Area (Total: 8,205 Agents)

 Nagpur Area (Total: 1,504 Agents)

 North Maharashtra Area (Total: 490 Agents)

 Sambhajinagar Area (Total: 343 Agents)

 Amravati Area (Total: 237 Agents)

 Why Agents Matter in Real Estate

Real estate agents — also referred to as property consultants — are critical in facilitating property sales, especially as a buyer’s first point of contact. Recognizing their role, MahaRERA has mandated training and certification for agents on essential aspects like:

• Model Sale Agreement
• Allotment Letter
• Carpet Area
• Defect Liability Period
• Transparent Pricing Mechanisms

This ensures uniformity and clarity in property transactions, helping buyers make informed decisions.

 Why 18,693 Agents Were De-Registered

The de-registrations were primarily due to:

• Failure to renew registration
• Not completing the mandatory MahaRERA certification

MahaRERA has made certification compulsory to ensure agents are aware of and compliant with the Real Estate (Regulation and Development) Act, 2016.

 Conclusion

With over 50,000 agents registered, Maharashtra reinforces its leadership in India’s real estate regulatory ecosystem. The Mumbai Metropolitan Region remains the epicenter, with more than 11,800 agents from Mumbai City and Suburbs alone. As the market grows more structured, the emphasis on agent training and accountability will be pivotal in protecting buyer interests and ensuring smoother transactions

Also Read: How Many Real Estate Projects Has MahaRERA Suspended In Your District?

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Developers Revive Flexible Payment Plans

Among the recent examples of this trend is a new payment plan introduced at Chandak Highscape City in Chembur (E), Mumbai. The Chandak Group has announced a scheme allowing buyers to secure a home with just a 5% initial payment, with the remaining balance payable upon terrace slab completion.

Located in Chembur, a rapidly developing hub known for its excellent connectivity and infrastructure, the project features 1, 2, and 3 BHK apartments along with over 45 amenities designed to enhance urban living. A spokesperson from Chandak Group highlighted the reasoning behind the scheme, stating, “At Chandak Group, we understand the aspirations of homebuyers and aim to make homeownership more accessible. This payment plan ensures minimal financial burden initially while allowing buyers to plan their investments smartly.”

A Growing Trend in the Real Estate Market

The revival of such payment schemes isn’t limited to a single project. Many developers across India are reintroducing flexible payment plans to encourage property purchases amid evolving economic conditions. Traditionally, buyers were expected to make substantial down payments and follow a construction-linked payment structure, which often led to financial strain. By allowing buyers to defer payments until the completion of key construction milestones, builders are making homeownership a more viable option.

Real estate analysts predict that more developers will adopt this approach in the coming months, especially in cities like Mumbai, Pune, Bengaluru, and Delhi-NCR, where high property prices often pose a challenge for buyers. The move aligns with the market’s demand for greater affordability and investment-friendly schemes.

Benefits for Homebuyers

The “Pay 5% Now, Rest on Completion” scheme offers multiple advantages:

• Reduced Initial Financial Burden – Homebuyers can secure a property with a minimal upfront payment, allowing them to plan their finances better.
• Increased Affordability – Buyers who may have been hesitant due to high initial costs can now enter the market.
• Lower Risk – Payments being tied to construction milestones provide reassurance that funds are being utilized as per progress.
• Better Investment Opportunities – Such schemes attract investors looking for lucrative returns without immediate financial commitment.

Future Outlook

With homebuyer sentiment improving and demand for housing steadily rising, developers are expected to continue offering such attractive payment plans. As economic uncertainties persist, initiatives like these provide a much-needed boost to the real estate sector, fostering confidence among buyers and stimulating property sales.

For those looking to invest in Mumbai’s premium real estate market, flexible payment plans like these could offer an accessible entry point. With increasing interest in buyer-friendly schemes, the return of “Pay 5% Now, Rest on Completion” offers signals a buyer-centric shift in India’s real estate landscape.

SFI Analysis

The resurgence of flexible payment schemes reflects the evolving dynamics of India’s real estate sector. While these plans help developers attract buyers in a competitive market, they also provide significant advantages for homebuyers, especially first-time investors and middle-income families. However, buyers must assess project credibility, developer track record, and financial planning before committing to such schemes.

Additionally, while deferred payment models make homeownership more accessible, they may pose risks for developers, particularly in times of economic downturn. Ensuring robust financial planning and regulatory safeguards will be essential to sustain the effectiveness of these offers. Overall, the trend signals a positive shift towards a more inclusive and buyer-friendly real estate market in India.

Also Read: Developer Offers 4 Flats in Festive Lucky Draw

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Land Acquisitions and Development Potential

Among the key highlights, Tier I cities maintained dominance, securing 72% of the total land acquired. However, Tier II and III cities made significant inroads, capturing 28% of the share, equivalent to 662 acres. Cities like Nagpur, Varanasi, Indore, Vrindavan, and Ludhiana emerged as surprise hotspots, reflecting a strategic shift towards diversified urban development.

Regional Highlights

The Mumbai Metropolitan Region (MMR) led land acquisitions, with 407 acres transacted through 19 deals—up 41% from 2023. Meanwhile, the National Capital Region (NCR) recorded the highest number of transactions, with 36 deals, particularly in Gurugram (21 deals) and Noida (14 deals).

Surge in Residential Development

Residential projects dominated the landscape, comprising 81% of all acquired land, translating to 158 million square feet of potential housing space. Factors such as the Reserve Bank of India’s policy rate cut and fiscal support for the middle class fueled housing demand, prompting developers to bolster supply. Other asset classes, including office, retail, and industrial real estate, saw relatively lower interest.

Capital Investment and Financing Trends

Developing these new land acquisitions is expected to require an investment exceeding INR 62,000 crore. The top seven cities—Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, MMR, and Pune—will account for 91% of the projected capital needs. With traditional financing constraints in place, alternative investment funds (AIFs) and private credit are poised to play a crucial role in meeting funding requirements.

Future Growth Trajectory

JLL’s findings indicate that real estate development is shifting towards a dual strategy—aggressive expansion in top cities alongside steady growth in Tier II and III markets. This approach is expected to create a more balanced and sustainable development pipeline across India’s urban landscape.

SFI Analysis:

The record-breaking land acquisitions of 2024 signify a paradigm shift in India’s real estate sector. While major metros continue to attract investments, the increasing interest in Tier II and III cities underscores a broader market expansion. This shift is driven by urbanization trends, infrastructure development, and rising demand for housing beyond traditional hubs. The surge in residential projects aligns with India’s growing middle class and favorable policy interventions. However, challenges such as rising construction costs and financing constraints remain pertinent. Alternative investment mechanisms, including AIFs and private credit, will be instrumental in sustaining this growth. Moreover, with developers focusing on long-term land banking strategies, India’s real estate sector appears poised for continued expansion, fostering economic growth and urban transformation.

Also Read: Amazon real estate

The post India’s Real Estate Sector Sees Record ₹ 39,742 Crore Land Acquisitions in 2024 appeared first on Square Feat India.

Homebuyers from projects including Avant Hillways, Vision Heights, and Shubham Trident received possession of their apartments, signaling the fund’s success in reviving stalled housing developments. The SWAMIH Fund, established in 2019 and managed by SBI Ventures Ltd., a subsidiary of the State Bank of India, was designed to provide last-mile financing to stressed and brownfield residential projects.

Speaking at the event, Sitharaman emphasized the government’s commitment to addressing housing sector challenges. “The SWAMIH Fund has played a crucial role in ensuring that thousands of families who had been waiting for their homes for years can now finally move in. This initiative reflects our dedication to reviving distressed projects and restoring confidence in the real estate sector,” she said.

Mr. Prem Prabhakar, Managing Director and CEO of SBI Ventures Ltd., underscored the impact of the fund, stating, “With the vision and support of the Government of India, this fund has enabled the completion of numerous housing projects, providing long-awaited relief to homebuyers.”

As India’s largest social impact fund for the real estate sector, SWAMIH operates under the sponsorship of the Ministry of Finance, addressing funding gaps and ensuring financial stability in the housing market. By targeting distressed projects, the fund is also stimulating credit growth and facilitating access to home loans, contributing to broader economic resilience.

The successful completion of 50,000 homes underlines SWAMIH’s role in stabilizing the real estate sector while supporting India’s economic recovery. The initiative continues to be a crucial mechanism for assisting homebuyers affected by stalled developments and driving inclusive growth in the housing market.

Also Read: budget expectations for real estate

The post FM Nirmala Sitharaman Hands Over Keys to Homebuyers as SWAMIH Fund Completes 50,000 Homes appeared first on Square Feat India.

A Long-Awaited Move

Dr. Niranjan Hiranandani, Chairman of NAREDCO, welcomed the decision, stating, “This long-awaited and strategic move signals resilience in the market. With inflation under control and economic growth on track, lower interest rates will nudge homebuyers towards ownership, enhancing sales velocity.”

Domnic Romell, President of CREDAI-MCHI, emphasized the combined impact of fiscal policies, saying, “The RBI’s decision, along with the Budget’s pro-middle-class measures like higher income tax exemptions and enhanced home loan interest deductions, will encourage homeownership and boost demand, especially in urban centers like the Mumbai Metropolitan Region (MMR).”

Positive Impact on Homebuyers and Developers

Anuj Puri, Chairman of ANAROCK Group, noted that the rate cut aligns well with the recent housing market trends. “With housing prices rising by 13-30% across top cities in the last year, reduced home loan rates will provide a timely breather for buyers. Many first-time homebuyers who were hesitant may now take the plunge.”

Dinesh Yadav, MD of Fine Acers, highlighted the broader economic impact: “This move enhances liquidity, promotes borrowing, and supports consumer demand. It will stimulate residential and commercial activity, benefitting allied industries like construction, cement, and steel.”

Vishal Raheja, Founder & MD of InvestoXpert.com, echoed similar sentiments, stating, “Lower borrowing costs will boost homebuyer sentiment, increasing affordability and driving residential sales. Combined with tax relief, this will revive demand in the housing sector.”

A Boost for the Economy

Amit Bhagat, CEO & MD of ASK Property Fund, stressed the importance of the move for affordable housing. “Declining affordability due to high prices and interest rates had impacted housing sales. This rate cut, along with Budget initiatives like SWAMIH Fund 2, will help sustain demand and drive sales growth.”

Sunil Sisodiya, Founder of Geetanjali Homestate, highlighted the macroeconomic impact: “With inflation stable and GDP growth projected at 6.7%, this policy shift will increase liquidity, making real estate a more attractive investment.”

Cautious Optimism

While the real estate sector welcomes the rate cut, experts caution that its full impact depends on banks passing the benefits to consumers. “The cut will have a significant bearing on homebuyer sentiment, but rising property prices and inflation could limit its effectiveness,” noted Vimal Nadar, Head of Research at Colliers India.

Shrinivas Rao, CEO of Vestian, pointed out potential challenges, saying, “This move aims to boost liquidity, but could also put pressure on the rupee in international markets, affecting foreign investments.”

Piyush Bothra, CFO of Square Yards, summed up the overall sentiment: “Lower borrowing costs, stable inflation, and economic growth create strong tailwinds for real estate. ‘Acchhe din’ for the sector are set to continue.”

Conclusion

The RBI’s first repo rate cut in five years is seen as a major step toward improving housing affordability, boosting demand, and strengthening the real estate sector. As banks begin passing on the benefits, both homebuyers and developers are expected to gain, ensuring sustained momentum in the property market.

Also Read: stamp duty discount for homebuyers

The post RBI Cuts Repo Rate by 25bps: A Boon for Homebuyers and the Real Estate Sector appeared first on Square Feat India.

In the first phase, MahaRERA issued a 30-day deadline for developers to respond to the notices. Developers of 5,324 projects submitted replies, with 3,517 providing their Occupancy Certificates (OC) and 524 seeking extensions for project completion. The responses of 1,283 projects remain under scrutiny.

However, 3,499 projects have not responded, prompting MahaRERA to initiate further action. These projects risk suspension of registration, transaction restrictions, and other penal measures.

Promoting Accountability and Transparency
MahaRERA Chairman Manoj Saunik highlighted the critical role of transparency and accountability in the real estate sector. “The primary objective of the Real Estate (Regulation and Development) Act, 2016 is to ensure transparency, accountability, and financial discipline in the real estate sector, ultimately protecting homebuyers’ interests,” he stated.

He noted that while the law mandates quarterly and annual updates on project status, compliance has been inconsistent. “In January 2023, only three out of 748 projects had submitted the required information. However, consistent follow-ups have resulted in significant improvement, as seen in the response to our recent show cause notices,” Saunik added.

Strict Measures to Enforce Compliance
Developers registering with MahaRERA must declare their project’s proposed completion date and update the authority if there are delays. They must submit Form 4 with the OC upon completion or apply for an extension if required. Quarterly Progress Reports (QPRs) and annual updates are also mandatory.

Non-compliance with these obligations has led to the suspension of defaulting projects and freezing of their bank accounts. MahaRERA has also instructed Joint District Registrars not to process transactions for these projects, further tightening measures to enforce compliance.

The authority has reiterated its commitment to protecting homebuyers and ensuring that developers adhere to the timelines and reporting requirements outlined in the Real Estate Act.

With 1,950 registrations already suspended and more stringent action expected against non-responding projects, MahaRERA continues its robust efforts to bring transparency and discipline to the real estate sector.

Also Read: conciliation forum MahaRERA

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