Out of 644 blacklisted realty projects in Maharashtra, 189 in Pune
16 Aug 2021
2 Min Read
CW Team
The Confederation of Real Estate Developers Associations of India (CREDAI) has objected to the Maharashtra Housing Regulatory Authority's (MahaRera) blacklisting of 644 projects across the state for delays in completion, claiming that it creates confusion among buyers.
Out of 644 projects, 189 are in Pune, and 274 are in the Mumbai Metropolitan Region (MMR).
Nagpur, Kolhapur, Aurangabad, Nashik, Satara, Ratnagiri, and Sangli are home to the remaining 28% (181) of projects.
The deadlines for 16% of the 644 projects were set for 2017, while 84% were set for 2018.
Projects that have been registered with MahaRera but have an incomplete status on its portal, according to CREDAI, are due to technical issues.
Sunil Furde, president, CREDAI Maharashtra, told the media that many of the MahaRera portal's housing projects have been completed on time.
The 644 projects were blacklisted by MahaRera in July, making it illegal to sell, advertise, or market homes in them.
Interestingly, 80% of these projects have already been sold.
Furde informed that many of these projects have received their completion certificates from municipal corporations before the MahaRera registration deadline. Some projects, however, were completed as well, but the completion certificate was not received until later. Some documents are only partially processed online. Some developers have unintentionally failed to inform MahaRera of this, resulting in their project appearing incomplete on their portal.
The Maharashtra government has not contacted builders since the March 2020 lockdown, according to CREDAI.
Furde told the media that a response is not received after uploading a certificate of completion. It's a little unrealistic to submit one or two documents after the construction project is completed while submitting other unnecessary documents.
Also read: Maharashtra RERA blacklists 644 projects in the state
Also read: More than 90 unfinished realty projects to shut down in UP: UP-RERA
The Confederation of Real Estate Developers Associations of India (CREDAI) has objected to the Maharashtra Housing Regulatory Authority's (MahaRera) blacklisting of 644 projects across the state for delays in completion, claiming that it creates confusion among buyers.
Out of 644 projects, 189 are in Pune, and 274 are in the Mumbai Metropolitan Region (MMR).
Nagpur, Kolhapur, Aurangabad, Nashik, Satara, Ratnagiri, and Sangli are home to the remaining 28% (181) of projects.
The deadlines for 16% of the 644 projects were set for 2017, while 84% were set for 2018.
Projects that have been registered with MahaRera but have an incomplete status on its portal, according to CREDAI, are due to technical issues.
Sunil Furde, president, CREDAI Maharashtra, told the media that many of the MahaRera portal's housing projects have been completed on time.
The 644 projects were blacklisted by MahaRera in July, making it illegal to sell, advertise, or market homes in them.
Interestingly, 80% of these projects have already been sold.
Furde informed that many of these projects have received their completion certificates from municipal corporations before the MahaRera registration deadline. Some projects, however, were completed as well, but the completion certificate was not received until later. Some documents are only partially processed online. Some developers have unintentionally failed to inform MahaRera of this, resulting in their project appearing incomplete on their portal.
The Maharashtra government has not contacted builders since the March 2020 lockdown, according to CREDAI.
Furde told the media that a response is not received after uploading a certificate of completion. It's a little unrealistic to submit one or two documents after the construction project is completed while submitting other unnecessary documents.
Image Source
Also read: Maharashtra RERA blacklists 644 projects in the state
Also read: More than 90 unfinished realty projects to shut down in UP: UP-RERA
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