MahaRERA puts 350 lapsed residential projects under scrutiny

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken a close look at about 350 of the 3,371 derelict residential projects after developers requested an extension of the time for completion of the projects for multiple reasons.

The developers of these 350 projects also want MahaRERA not to include them in the expired project list.

Recently, across the state, the MahaRERA had described 3,371 residential projects as derelict between 2017 and 2021, with the developers failing to complete them within the deadline.

Of these, 350 housing projects have been examined by MahaRERA.

A MahaRERA official said it is less than 10% of the total number of abandoned projects.

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