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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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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The regulator, which started registering middlemen for real estate transactions in 2017, has 47,000 agents registered in total.13,785 agents had their registrations canceled earlier this year for failing to renew their licenses.

An official estimates that approximately 5,500 new applicants will probably show up for the test in order to register as agents the following month.

It further said that the licenses of these 20,000 agents may be renewed if they completed their training, obtained their certificates of competency, and uploaded them to the internet within a year.

About 5,500 new applicants are anticipated to show up for the exam in order to register as agents next month, according to an official.

Ajoy Mehta, the chairman of the organization, stated that agents must be familiar with the Real Estate (Regulation and Development) Act, 2016 regulations because they have a significant role to play.

MahaRERA has mandated that agents complete the required training, pass the test, and become certified. This decision was made on January 10, 2023, and it was postponed several times until going into effect on January 1, 2024, for all agents, the spokesperson stated.

He warned that if developers continue to work with untrained agents, the regulator will not hesitate to remove their registration. Approximately 20,000 agents are currently functioning without proper qualifications, and their approval has been stopped.

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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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Around 363 projects whose Forms 1, 2, and 3, which offer information about the status of the project, were not uploaded on the MahaRera website had their registrations terminated by the regulating body. Following that, 72 different project promoters amended their website information and paid a Rs 50,000 fee. MahaRERA had to set a deadline because the other promoters had not updated their information yet.

Only three of the 746 projects that were enrolled for this year’s MahaRERA, according to officials, filed their quarterly progress reports by the deadline of April 20.

After that, the regulatory body issued a 15-day warning the first week of May of this year. MahaRERA then provided a 45-day notice during the third week of July.

Developers of 380 projects replied to the two notices within the allotted 60 days and updated their QPR. The third week of September saw the suspension of the 363 project promoters’ registration since they had not responded to notices. A MahaRera official stated that later, 72’s promoters corrected their progress records and also paid a fine.

Developers who have had their registration cancelled must reapply and pay a fine of Rs 50,000 to have it reinstated, the official continued.

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