The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken strict action by suspending the registrations of 4,812 lapsed housing projects across the state. Alongside, the authority has frozen developer bank accounts, marking one of the strongest enforcements in recent times to protect homebuyers’ interests.
Why Did MahaRERA Suspend These Projects?
In December 2024, MahaRERA flagged 10,773 projects for failing to either:
Update construction progress reports, or Apply for extension approvals before deadlines.
Out of these, 4,812 projects failed to comply despite repeated notices. As a result, their registrations now stand suspended.
Cities Hit the Hardest
The suspension is spread across Maharashtra, with Pune leading the list.
Pune: 1,219 projects Thane: 535 projects Raigad: 465 projects Mumbai Suburban: 438 projects Palghar: 377 projects
This highlights the scale of lapses in urban and semi-urban regions where homebuyer demand remains high.
What Does Suspension Mean?
Restrictions for Developers
No new sales or property transactions allowed. Developers cannot sign fresh agreements with buyers. Penalties of up to ₹50,000 for non-compliance.
Impact on Buyers
Buyers with existing bookings remain protected. However, no new transactions can be registered until the developer complies.
MahaRERA’s Transparency Push- To ensure homebuyers stay informed, MahaRERA has:
Published the list of suspended projects on its official website. Proposed QR-code based alerts to indicate if a project is in abeyance. Strengthened penalties and compliance deadlines to deter repeat lapses.
What Developers Must Do Next
For suspended projects to regain active status, developers must:
Submit pending quarterly reports (Form 4). Apply for project extensions where necessary. Clear penalties and revalidate timelines.
Why This Action Matters
This move reinforces MahaRERA’s role as a watchdog for real estate accountability. By holding developers responsible, it aims to:
Protect homebuyers from stalled or fraudulent projects. Improve market transparency and trust. Set a benchmark for regulatory enforcement across India.
📌 Key Takeaway
MahaRERA’s suspension of 4,812 projects is a wake-up call for developers to maintain strict compliance and for buyers to remain vigilant before investing. It’s also a landmark step in building a more transparent and reliable real estate ecosystem.