Transparency in Action: Understanding the Deregistration of 107 Real Estate Projects in Maharashtra and MaharERA’s Objection Process
107 real estate projects that are up for deregistration in Maharashtra. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has invited objections to the deregistration of these projects.
The projects that have been proposed for deregistration are located in different parts of Maharashtra, including Pune, Mumbai, Thane, and Raigad. The developers of these projects have cited various reasons for seeking deregistration, including financial difficulties, delays in getting approvals, and changes in government regulations.
MahaRERA has invited objections to the deregistration of these projects from affected buyers, creditors, and other stakeholders. The objections can be submitted in writing to MahaRERA by July 7, 2023.
If no objections are received, or if the objections are not found to be valid, MahaRERA will deregister the projects. This will mean that the projects will no longer be subject to the provisions of the Real Estate (Regulation and Development) Act, 2016.
The deregistration of these projects is likely to have a negative impact on the buyers who have invested in them. The buyers may not be able to get their money back, and they may also face difficulties in getting their flats.
It is important to note that the deregistration of these projects is not a final decision. MahaRERA will consider all the objections that are received before making a final decision.
If you are a buyer who is affected by the deregistration of a real estate project, you should contact MahaRERA to submit your objections. You should also seek legal advice to understand your rights and options.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
