The Maharashtra Real Estate Regulatory Authority (MahaRERA), in the last financial year ending on March 31, 2024, issued registration numbers to 4,332 new projects out of 5,471 applications it received.
Of the total approved projects, Pune had the highest number of projects with 1,172 projects. Following Pune are Thane (597), Mumbai Suburban (528), Raigad (450), Nagpur (336), Nashik (310), and so on.
Regional Distribution Of New Real Estate Projects And MahaRERA Scrutiny Levels
If the numbers are looked at region-wise, the Mumbai Metropolitan Region (MMR) comprising Mumbai, Mumbai Suburban, Thane, Raigad and also known as Konkan Region had the highest number at 1,976 new projects. After this, Pune, Kolhapur, Solapur, Sangli and Satara in Western Maharashtra had second highest approvals with 1,415 projects, followed by Vidarbha with 437 projects. Within Vidarbha, Nagpur had 336 projects. Northern Maharashtra saw 347 new projects, out of which Nashik had 310 projects, and Marathwada with 149 new projects, including 117 from Aurangabad. Additionally, there are 8 projects in Dadra Nagar Haveli.
To ensure timely completion of projects and to avoid grievances from homebuyers, prior to sanctioning registration, MahaRERA scrutinises every project thoroughly at three levels - legal, financial, and technical.
Enhanced Verification Measures and Scrutiny for Real Estate Projects In Kalyan-Dombivali Area
Apart from this, owing to irregularities in the Kalyan-Dombivali area, while seeking MahaRERA registration, it has been made mandatory to get a copy of 'Commencement Certificate' (CC) from the concerned planning authorities. This communication is shared via a pre-determined designated email address on the side of planning authorities as well as MahaRERA. This decision has come into effect starting June 19 and registration number is not issued until the due diligence is done.
Despite initial efficiency, delays in receiving approval emails, and resolution of proposal errors from concerned developers have led to the approval of registration numbers for 4,332 out of 5,471 projects. Remaining 1,139 projects are under scrutiny. Once the developers of these 1,139 projects rectify errors and don’t leave behind any deficiencies, registration numbers will be issued to them.
Registration Statistics Of Real Estate Projects Across Maharashtra's Regions
In Pune, out of 1,431 projects, registration numbers have been issued to 1,172 projects. In Thane, out of 765 projects, 597 have been registered. In Mumbai Suburbs, out of 655 projects, 528 have been registered. In Raigad, out of 546 projects, 450 have been registered. In Nagpur, out of 404 projects, 336have been registered, and in Nashik, out of 381 projects, 310 have been registered.
In the Kalyan – Dombivli and Vasai – Virar regions, registration was issued to 332 out of 446 projects. This includes 123 out of 178 from Vasai – Virar and 209 out of 268 from Kalyan – Dombivli.
