MahaRERA Approves 823 New Projects, Rejects 799 Applications, Know Why?
Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved 823 new projects out of 1,622 applications received between October 1 and mid-November. The rejection of 799 applications was due to inadequate documentation for other projects.
Among the approved projects, 257 were from Pune district, 106 from Mumbai city, and the Mumbai suburban region. By October, 645 new projects had received approval, with an additional 178 approved by November 13.
This year, there were 1,208 new project applications in October and 414 in November, marking an increase from the 769 new projects approved in the same months last year.
In Pune district, 373 applications were submitted to MahaRERA in October, with 198 accepted. In the first two weeks of November, 130 applications were submitted, and 59 were accepted. Investigations are ongoing for the remaining applications.
Since June, MahaRERA has implemented a new rule requiring new applications to be submitted only when the competent local authority provides a commencement certificate (CC) from its valid or designated email ID through the MahaRERA website.
These stringent initiatives by MahaRERA aim to protect buyers from fraud when purchasing a house.
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