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According to a MahaRERA official, there are 39 real estate projects in Pune whose developers have submitted applications for deregistration. The Maharashtra Real Estate Regulatory Authority (MahaRERA) organization has received 88 requests from developers in various regions, citing an inability to continue their projects due to a range of causes, such as insufficient funds, legal disputes, alterations in government planning regulations, or other factors. Pune had the greatest number of applications i.e., 39, while Raigad had 16, Thane had 8, and Mumbai city had 4.
According to the published list on the MahaRERA website, the majority of 39 real estate ventures are located in Pune's rural areas, including Khed, Maval, and Mulshi. On February 10, the authority released a notice that enables developers to request the elimination of projects if certain requirements are met. The deadline for homebuyers to raise objections with MahaRERA regarding the deregistration of projects is June 17. An official stated that de-registration will be considered once all of the purchasers' rights and demands have been met. Stakeholders and homebuyers have a 15-day window to email their objections regarding the deregistration order issued on June 2 to secy@maharera.mahaonlinegovin.
The developer must meet certain requirements set forth by MahaRERA if they wish to halt construction of a project. The regulations require the developer to meet the requirements specified for cancelling projects with reserved units. MahaRERA authorities have specified that in order to be removed from registration, the developer is required to settle the allottees' rights and furnish relevant documents for verification. The authority will consider all the objections raised by the homebuyers and subsequently make the final decision, upon which the delisted project will be displayed on the website.
The MahaRERA order stipulated that, in accordance with Section 34 of the RERA Act, the authority has the responsibility of regulating and registering both real estate projects and the agents operating within the framework of the Act. According to the statement, there are certain cases where developers who have enrolled their property ventures face difficulties initiating and finalizing the building process.
The order stated that MahaRERA has the authority to scrutinize applications from developers and grant permission to cease the registration of their real estate projects. According to a government representative, there are methods by which a member of the public can determine if a venture has been removed from registration. If the governing body decides to cancel a project, information regarding it will be posted on the website. At this moment, the website offers information about applications that have been submitted by developers with a request for deregistration.
After the issuance of the final order, the project that has been removed from the register will be included in the list as well. The sale of flats can only be conducted by projects that have been registered with MahaRERA. Godfrey Pimenta from the Trustee Watchdog Foundation stated that MahaRERA must publicize the deregistration of real estate projects in two or more newspapers to prevent potential homebuyers from being deceived.
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