Among these are prominent projects such as Lokhandwala’s development at Worli Naka and a Lodha project in Dombivli. This development adds to the growing number of deregistration requests, with MahaRERA having received applications for deregistration of nearly 400 projects to date.

Promoters typically file for deregistration under specific circumstances, including when there are zero bookings for the project, financial difficulties, the project’s infeasibility, or new directives issued by planning authorities that affect the viability of the development.

To ensure transparency, MahaRERA has made the list of these 19 projects publicly available on its website, keeping homebuyers informed about the status of these developments.

Of the approximately 400 deregistration applications received, MahaRERA has approved around 200, while the remaining requests are at various stages of review and processing.

According to officials, the reasons cited for deregistration are consistent: projects with no bookings, financial hardships faced by the promoters, project feasibility issues, or challenges arising from planning authority notifications.

For a deregistration request to be considered, it is mandatory that the specific project or phase in question has zero bookings. If the deregistration impacts other phases of a larger project, the developer is required to secure consent from at least two-thirds of the allottees in the affected phases before proceeding with the application.

In February of the previous year, MahaRERA formally outlined the conditions under which projects could be deregistered.

Promoters may withdraw their projects if they cannot commence or complete construction due to reasons such as lack of funds, economic unviability, legal disputes, or changes introduced by planning authorities that adversely affect the project. This policy aims to address stalled projects pragmatically and to offer relief to both developers and buyers.

“MahaRERA conducts a thorough scrutiny of each deregistration application,” stated a MahaRERA official. “This includes examining the project’s accounts and CA certifications to ensure that the interests of homebuyers are not compromised.

Only after all these criteria are met does the regulatory authority approve the deregistration.”
The regulatory body has emphasized that deregistration is considered a practical option for promoters struggling to proceed with their projects.

“When promoters are unable to initiate or complete construction, keeping the project registered serves no purpose. Deregistration is a necessary measure in such situations,” said a senior MahaRERA official.

However, MahaRERA has also provided avenues for recourse to affected parties. Any aggrieved individual or entity can file a complaint regarding the deregistration of a project. MahaRERA assures prompt hearings of such complaints, ensuring that due notices are served to the promoters involved.

Once a decision is reached, the terms and conditions set by MahaRERA in the deregistration order are binding on the promoter. This structured approach ensures that while deregistration addresses the concerns of promoters facing genuine challenges, it also upholds the interests of homebuyers, maintaining transparency and accountability in Maharashtra’s real estate sector.

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This marks a considerable increase compared to previous years, as 190 projects were registered in 2023 and 215 in 2022. This trend highlights the strong growth in real estate developments within Uttar Pradesh.

A key trend observed is the increased registration activity in non-NCR districts and continued development within NCR districts. Of the total new registrations in 2024, approximately 144 projects, representing 65% of the registrations, are in non-NCR districts.

Meanwhile, 76 projects, accounting for 35%, are in NCR districts. Notably, this represents a shift from the 2017-18 period, where registration numbers in NCR and non-NCR areas were nearly balanced.

The non-NCR districts contributing to this surge include Mathura, Ayodhya, Bareilly, Moradabad, Jhansi, Prayagraj, Varanasi, and Lucknow. In NCR, the main districts where projects have been registered are Gautam Buddha Nagar, Ghaziabad, and Meerut.

In total, UP-RERA has recorded 3,756 projects across the state, which include residential, commercial, and mixed-use developments.

Of these, 1,701 projects are situated in NCR districts, while 2,055 are based in non-NCR districts. Among the total registered projects, 1,207 have been completed and have secured the necessary Occupancy Certificate (OC) or Completion Certificate (CC).

Regarding the type of projects, around 1,700 are new projects that were registered after May 1, 2017, whereas 2,056 fall under the category of ongoing or work-in-progress.

In the non-NCR region, of the 2,055 registered projects, 1,068 are new, while 987 are ongoing. Meanwhile, in NCR, of the 1,701 projects, 632 are new, with 1,069 continuing under construction. Gautam Buddha Nagar leads with 1,015 projects, followed by Lucknow with 785, and Ghaziabad with approximately 470.

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These projects are undergoing insolvency proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) of 2016.

Several banks, financial institutions, and other entities that have provided credit to the real estate sector have initiated the Corporate Insolvency Resolution Process (CIRP) against these developers.

Significant investments have already been made in these 314 projects. Of these, 56 are ongoing, with an average apartment registration rate of over 34%.

Among the 194 lapsed projects, the average property registration stands at over 61%. Meanwhile, 64 projects have been completed, with an 84% registration rate for the apartments.

The list includes projects by prominent developers such as Wadhwa Buildcon LLP, Housing Development & Infrastructure Ltd (HDIL), Man Infraprojects, RNA Corp, Radius & Deserve LLP, Karrm Infrastructure, Man Realty, Lavasa Corp, Richa India Infra Development, Rashmi Housing, Nirmal Lifestyle, and Sheltrex Karjat.

MahaRERA has taken various steps to monitor real estate projects closely. The regulator not only verifies information shared by developers but also stays updated on project statuses through other sources.

“MahaRERA is consistently working to ensure that homebuyers’ investments are safeguarded,” said Manoj Saunik, Chairman of MahaRERA.

“This list of 314 projects undergoing insolvency and bankruptcy is part of our effort to alert homebuyers and protect them from potential fraud.

In April 2023, we released a district-wise list of 308 similar projects, which helped many homebuyers. We encourage everyone to review this updated list before making any property purchase decisions.”

The list of projects facing NCLT proceedings is available on MahaRERA’s website and has been compiled based on information obtained from various sources and verified by relevant authorities.

It remains unclear whether these 314 projects are still accepting new bookings. To ensure transparency and protect homebuyers, MahaRERA has updated the list on its portal and urges potential buyers to consult it before making any decisions.

In Mumbai’s suburban areas, 88 projects are listed, with 51 of them having witnessed 70% investment. In Pune, 45 out of 50 projects are already 75% booked. In Thane, 52 of 106 projects have seen 50% investment, while in Palghar, 16 of 18 projects are 74% booked.

Other cities also show significant investments. Solapur’s five projects have 87% investment, Nagpur’s two projects have 60%, and the sole lapsed project in Chhatrapati Sambhajinagar is 55% invested.

Additionally, two out of nine lapsed projects in Mumbai City have seen 68% investment, and in Nashik, the three lapsed projects have 34% investment. In Raigad, 13 of 15 lapsed projects have seen 32% investment, according to data from MahaRERA.

Of the 56 ongoing projects, 21 are in Mumbai suburbs with 38% bookings, 20 in Thane with 28% sales, six in Mumbai City with 31% bookings, and five in Pune with 41% sales.

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In addition, UP-RERA has mandated that all industrial and housing development authorities must specify the names of the relevant towers or blocks for which a part-C.C. or O.C. is being issued. This should be done alongside listing the names of all towers or blocks within the project or project phase.

The authority has noticed that competent authorities have been issuing part-C.C. or O.C. documents with project particulars that do not match the names provided by promoters during RERA registration or in the sale agreements (BBA) between promoters and homebuyers.

Sanjay Bhoosreddy, Chairman of UP-RERA, stated, “It has come to our attention that the names of completed towers, blocks, or units listed in part-C.C.s or O.C.s issued by some planning authorities do not match the names given by promoters to UP-RERA at registration.

This discrepancy creates doubts among homebuyers and the regulatory authority. With due diligence at the planning authorities’ level, this issue can be easily resolved.”

These mismatched part-C.C.s or O.C.s cause homebuyers to question the completion status of their units or towers when it comes to executing conveyance deeds and taking possession.

To avoid these issues, UP-RERA has advised planning authorities to obtain the marketing names of the project, its towers, and blocks, along with the number of units from the promoter.

This information should be included in the application for map sanctioning and when granting completion or occupancy certificates. This approach aims to eliminate any doubts regarding the project’s or its towers’ and blocks’ completion status.

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Of these 628 projects, 312 are from the Mumbai region, including Mumbai, Mumbai suburban, Thane, Nashik, and Konkan. About 250 projects are from the Pune region, covering Pune city, western Maharashtra, and Marathwada, while 66 projects are from the Nagpur region.

To protect investments, MahaRERA has urged homebuyers to avoid transactions with housing projects that lack the mandatory RERA registration number. “Promoters of housing projects are not permitted to advertise their projects without a MahaRERA registration number.

Starting August 1, 2023, it is also mandatory to display a QR code with every advertisement, enabling homebuyers to access important project information.

Despite this, some developers are violating these guidelines. Therefore, MahaRERA is always on the lookout for such advertisements and regularly initiates action against the violators,” said Ajoy Mehta, chairman of MahaRERA.

For effective enforcement of these guidelines and to identify violators, MahaRERA collaborates with the Advertising Standards Council of India (ASCI). This partnership aims to monitor both traditional and new-age advertising formats, with the aid of artificial intelligence.

The collaboration has successfully identified violators across newspapers, websites, online video streaming channels, and social media. Notably, the violation rate is significantly higher on social media compared to traditional advertisement formats.

Under the Real Estate (Regulation and Development) Act, any project in Maharashtra exceeding 500 square meters or involving more than eight apartments (including plots) must be registered with MahaRERA. No marketing activities or sales are allowed without securing this registration number.

Furthermore, starting August 1, 2023, developers are required to provide detailed project information, including the project’s name, developer’s name, registration renewal status, expected completion date, pending complaints, litigations, and any recovery warrants. This information can be accessed by scanning the project’s QR code.

Despite these mandatory requirements, some developers continue to disregard the guidelines, prompting MahaRERA to initiate suo motu action and issue show-cause notices to the violators.

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As per the regulations, real estate project promoters are required to furnish the QPR detailing the current state of their housing and planned projects to the homebuyers who have put their hard-earned money in them.

The Real Estate (Regulation and Development) Act, 2016 requires the promoter to submit specific statutory compliances of the registered projects within their validity time, according to ORERA’s directive.

According to the Act, the promoter must update the QPR for the projects listed on the authority’s website. Additionally, it said that the individual must have a chartered accountant analyze his finances within six months of the conclusion of each fiscal year and upload the results to the Internet.

It stated that even though the authority had previously given all promoters until October 15, 2023, to submit all legislative compliances—including any ongoing ones—many promoters had failed to follow the instructions.

“We have sent the letters to the promoters and requested that they respond by January 24 at the latest. The Act will be followed, and required action against any promoter who does not respond promptly will be taken, according to ORERA Chairman Siddhanta Das.

According to officials, ORERA is authorized by the Act to penalize promoters who violate this rule. They stated that each quarter of a given year’s QPR must be posted on the ORERA website within 15 days of its expiration.

According to the ACT, promoters may be fined Rs 5,000 for each missing quarter, with an additional Rs 10,000 for each succeeding missed quarter. ORERA has the right to cancel the promoter’s registration if they neglect to submit the QPR or pay the punishment.

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More than 222 projects, or 46.25% of the 480 projects registered in April 2023, have been prompted by the regulator’s rigorous action to submit their quarterly updates within the allotted time frame.

Remarkably, only two projects out of 746 (or 0.02% of all projects registered) in January 2023, roughly 19% (or 131 out of 700) in February, and about 34% (or 150 out of 440) in March 2023 had given quarterly updates prior to sending out any warning.

“In accordance with the regulations, housing developments must submit a Quarterly Progress Report (QPR) to MahaRERA and keep it updated on the internet. This facilitates the purchasers’ understanding of the project’s accurate and current status. It’s encouraging to see that projects responded 46.25% in March compared to 0.02% in January. However, MahaRERA demands and aims for a 100% response, according to Ajoy Mehta, Chairman of MahaRERA.

The regulator halted the registration of more than 3,388 real estate developers’ projects in September due to their failure to provide the required quarterly updates of project-related data.

According to the Real Estate (Regulation & Development) Act of 2016, this data needs to be updated. According to the rule, real estate developers need to register their projects with MahaRERA and update the relevant data every three months.

This is intended to assist buyers in understanding the status of the project, including the number of sold units, the amount of money collected, the expenses incurred, and whether or not those expenses are reasonable given the physical development.

MahaRERA has begun enforcing strict measures against projects; thus far, 741 projects have been placed on hold, and 195 of those have complied further, resulting in the issuance of withdrawal orders. At the moment, 546 projects are on hold, and their bank accounts have been frozen.

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In a similar vein, the failure to update quarterly project reports may result in the suspension of 224 projects that were registered in March. MahaRERA is currently reviewing the most recent reports submitted by the developers of the 352 projects that were registered in February; if any are deemed to be lacking, they may be suspended.

Out of the 248 projects that have had their registration revoked, 99 are located in the Mumbai Metropolitan Region (MMR). The MahaRERA website must be updated with the quarterly progress report, which includes information on the number of units registered, the amount of money received, the expenses incurred, and any changes to the building plans.

This meant that developers of projects registered in February had to update this data by July 20 at the latest, and developers of projects registered in March had to update it by October 20 at the latest.

MahaRERA, however, suspended the registration of the 248 projects since a number of them failed to update information even after notices warning about the suspension of their project registration were served. 69 of these come from Western Maharashtra, 28 from North Maharashtra, 40 from Vidarbha, and 99 are from MMR.

Prior to this, in January of this year, the MahaRERA had halted the registration of about 363 out of the 700 projects. The promoters of various projects then corrected the data on the website and paid a Rs 50,000 fine. Developers of up to 112 of these projects, nevertheless, have not updated their reports with the MahaRERA as of yet.

“It’s highly likely that these projects’ registrations will be canceled. However, there is a procedure that must be followed before these projects’ registrations are canceled.

We will need to notify all parties involved in the project, such as the lenders or financiers. A MahaRERA representative stated, “We will have to notify them and give them some time before we cancel the registration.

The bank accounts of projects that MahaRERA suspends registration for are frozen, and the project promoters are unable to market, advertise, or sell the project’s units. Concerned deputy registrars are also instructed not to record any sales transactions or deposits related to this project.

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