MahaRERA, the regulatory authority for real estate in Maharashtra, has recently been presented with a total of 107 project cancellation requests, with 41 of them originating from Pune.
According to a MahaRERA official, there has been an update on the project cancellation requests. Initially, the tally stood at 88, but subsequently, an additional 19 new applications for cancellation were received, bringing the total to 107. Out of these, 41 projects are from Pune.
The MahaRERA official has stated that there has been no response from consumers regarding the applications submitted by developers for deregistration of the initial 88 projects. As a result, the authority has decided to extend the timeframe until July 7, allowing consumers to provide their suggestions and objections regarding the deregistration of these projects.
Interested parties who have objections to the deregistration of any of the 107 projects are advised to submit their concerns within the next two weeks, as per the official statement. Although the official did not provide a specific email address for submission, individuals should utilize the official communication channels of MahaRERA to submit their objections. On February 10, MahaRERA released a circular indicating the potential cancellation of registration for non-viable housing projects under specific circumstances.
Since the end of May, the number of proposals for cancellation in Pune has steadily risen from 39 projects. Currently, the total number of projects seeking cancellation in Pune stands at 41. The MahaRERA website provides a comprehensive list of these projects for reference.
Among the total of 107 projects, the distribution of cancellations is as follows: 41 projects in Pune, 16 projects in Raigad, 12 projects in Thane, 6 projects in Palghar, 5 projects in Mumbai suburbs, 4 projects in Mumbai city, and 3 projects each in Sindhudurg, Parbhani, Nashik, Nagpur, Chatrapati Sambhajinagar, Satara, and Kolhapur. Additionally, there are 2 projects each in Nanded, Latur, Ratnagiri, Solapur, and Dadra Nagar Haveli, all of which have applications for cancellation. This information signifies that one project in each of these regions is subject to the cancellation process.
Numerous housing projects have faced non-fulfillment due to diverse reasons, including insufficient funds, financial infeasibility, ongoing legal disputes, family conflicts, and more. In cases where cancellation impacts other components of the overall project, MahaRERA mandates that consent from at least two-thirds of the allottees is required. Moreover, if registration dues remain pending for a project seeking cancellation, those dues must be resolved. Furthermore, the cancellation should not face any objections from the relevant parties involved. These conditions are outlined by MahaRERA to ensure a comprehensive evaluation and resolution of cancellation requests.
The Mumbai Grahak Panchayat, a state consumer body, has raised a demand for the revocation of de-listed projects instead of deregistration, as initially announced by MahaRERA earlier this month. However, the consumer body has stated that it has not yet received any response from MahaRERA regarding their demand. The Mumbai Grahak Panchayat awaits further communication from MahaRERA on this matter.
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