39 Realty Projects In Pune Apply For Deregistration, Real Estate News, ET RealEstate

June 23, 2023

PUNE: Developers of 39 real estate projects in Pune have applied for deregistration, a MahaRERA official said on Monday.

MahaRERA has received a total of 88 applications from across the state from developers who are unable to go ahead with the projects due to lack of funds, litigation, change in government planning authority notification or for other reasons. The highest number of applications were received from Pune (39) followed by Raigad (16), Thane (8) and Mumbai city (4).

Most of these 39 real estate projects are in Pune rural areas such as Khed, Maval, and Mulshi, as per the list uploaded on the Maharashtra Real Estate Regulatory Authority (MahaRERA) website. The authority issued a notification on February 10 allowing developers to apply for deregistration of projects with conditions.

Homebuyers have time till June 17 to file objections with MahaRERA regarding deregistration of projects. Deregistration will be entertained only if all the rights and claims of buyers are settled, said an official.

“The order was issued on June 2 and homebuyers and other stakeholders have been given a 15-day deadline to file objections regarding deregistration via email (secy@maharera.mahaonline.gov.in),” said the official.

The MahaRERA has laid down a few conditions which will have to be fulfilled by the developer in case he or she wants to discontinue construction of a project. The rules stipulate that the developer should fulfil the conditions laid down for deregistration of projects with bookings. MahaRERA officials said that such projects shall be considered for deregistration if the rights of the allottees are settled by the promoter and documents to that effect are submitted for verification. After receiving all objections from homebuyers, the authority will take the final decision and the deregistered project will be mentioned on the website.

The order issued by MahaRERA said that under Section 34 of the RERA Act, one of the functions of the authority is to register and regulate real estate projects and real estate agents registered under the Act. It said that there are instances where developers who have registered their real estate projects are unable to commence and complete the construction of the same.

In such cases, on receiving an application from promoters and on evaluating /scrutiny of the same, MahaRERA may allow for deregistration of such real estate projects, the order stated. An official said that there are ways a citizen can find out whether a project has been de-registered. If the authority decides to deregister a project, the details about the same will be uploaded on the website.Currently, the website provides details of applications that have come from developers seeking deregistration.

Once the final order is issued, the deregistered project will also be listed. Only registered projects with MahaRERA can carry out sale of flats. “Deregistration of any real estate projects by MahaRERA has to be published in at least two or more newspapers so that prospective homebuyers are aware of such projects and do not get cheated,” Godfrey Pimenta of the Trustee Watchdog Foundation said.

  • Published On Jun 7, 2023 at 08:45 AM IST

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