Mumbai News: 19 More Builders Take Delisting Route; List Rises to 107

Mumbai: More developers want to deregister their projects with Maharashtra Real Estate Regulatory Authority (MahaRERA) as the list of such housing projects has increased to 107 from the earlier 88.

In the fresh list of 19 projects put out by the housing regulator on June 19, four of them belong to only one builder – Macrotech Developers of the Lodha Group, namely, Lodha Splendora Platino D, Crown Splendora Tower 1, Lodha Kandivali Project Tower 2 and Lodha Kndivali Project Tower 4.

Projects listed

Another project from Hubtown (formerly Akruti) has also been listed – Hubtown Serene A Wing, so is the case with Navi Mumbai based Arihant Superstructures – Arihant Aakarshan Phase I.

In the earlier list of 88 projects, the builders such as Wadhwa Group, Kalpataru Limited, DB Realty, Ashwin Sheth Group, Arihant Superstructures, Hubtown, Panvelkar Group, etc appeared.

As not a single objection has been received to deregister the earlier list of 88 housing projects in Maharashtra, MahaRERA has decided to extend the window to receive them by another fortnight.

The policy to permit deregistration of projects was made public on February 10 this year. Only those projects that are unviable, has come to a standstill, stressed, impacted by change in regulations, developer exiting the project, internal disputes, litigations, zero sale of homes, etc. are allowed to submit an application.

MahaRERA provisions on de-registration

There are some developers who have projects planned in multiple phases, but have a single MahaRERA registration number. They have been instances wherein they have faced challenges in completing some of the phases. In such scenario, zero booking flats is required in the project or phase which is to be cancelled. In case if de-registration is going to have any effect on others in the larger project, a consent of two-thirds of the allottees is also needed, as per MahaRERA provisions.

Whenever the developer is applying for deregistration, all the dues with interest and compensation has to be paid to the affected homebuyer. Also, an evidence from the allottees is required with respect to them not having any objection to the project’s deregistration.

The deadline to submit objections to the list of 88 housing projects had come to an end on June 17, now with an additional 19 applications received, the regulator has decided to extend the earlier timeline as well as provide 15 days to the fresh set of names.

As per the revised list, there are 41 projects from Pune, 16 from Raigad, 12 belong to Thane, 6 in Palghar, 5 from suburban Mumbai, 4 from Mumbai City, 3 each from Sindhudurg, Parbhani and Nashik, 2 each from Nagpur, Ch. Sambhaji Nagar and Satara and 1 each from Kolhapur, Nanded, Latur, Ratnagiri, Solapur and Dadra Nagar Haveli.

“Those who are getting impacted by delisting of these 107 projects are appealed to approach us with their objections by send us an email on secy@maharera.mahaonline.gov.in,” said a MahaRERA official.