MahaRERA Registers Over 4,000 Projects in Past Fiscal Year, Pune Leads the Way
In the past fiscal year, MahaRERA (Maharashtra Real Estate Regulatory Authority) has registered a total of 4,332 projects out of 5,471 applications received, while the remaining applications are currently under review, according to officials. Pune emerged as the leader in registered projects with 1,172, followed by Thane with 597 and Mumbai Suburban with 528 projects. The pending proposals are undergoing scrutiny, with local authorities mandated to verify developers' commencement certificates to prevent fraudulent practices, following incidents like the Kalyan Dombivli case where false documents were submitted for project registration. To bolster transparency and efficiency, local authorities have been instructed to verify projects via email or integrate their websites with MahaRERA. The stringent verification process aims to ensure the authenticity of project details before registration numbers are issued.
Region-wise analysis reveals that the Mumbai Metropolitan Region (MMR) had the highest number of new projects at 1,976, encompassing Mumbai, Mumbai Suburban, Thane, Raigad, and Konkan Region. Following closely, the Pune region, covering Pune, Kolhapur, Solapur, Sangli, and Satara in Western Maharashtra, secured the second-highest approvals with 1,415 projects, followed by Vidarbha with 437 projects. MahaRERA's meticulous scrutiny at three levels legal, financial, and technical is aimed at expediting project completion. Currently, 1,139 projects are under scrutiny, with registration numbers slated for issuance once developers rectify errors and ensure compliance with regulatory standards.
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