MahaRERA Cracks Down on Non-Compliant Developers: 1,905 Projects Suspended Across Maharashtra

Maharashtra: Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken strict action against developers failing to provide status updates on their delayed housing projects. In total, 1,905 projects have been suspended across the state, with major areas affected including Pune (487 suspensions), Raigad (240), Thane (204), and Mumbai suburbs (111). Of these, 51 projects were in Mumbai.

The suspension follows the non-compliance of over 10,700 developers who missed project completion deadlines without informing the regulator, as mandated under the Real Estate (Regulation and Development) Act, 2016. MahaRERA had issued show cause notices to these developers, and the majority failed to respond, prompting suspension actions. Some developers' bank accounts have been frozen as part of the punitive measures.

MahaRERA Chairman, Manoj Saunik, emphasized that these measures were essential to protect the interests of homebuyers, warning that the regulators would continue to scrutinize the non-responding developers and consider further suspensions. Developers found guilty of failing to meet statutory deadlines risk penalties, de-registration, and severe restrictions on sales.

This crackdown demonstrates MahaRERA's commitment to enforcing transparency in the real estate market, ensuring that developers uphold their obligations.