Latest news with #MahaRERA
Time of India
3 days ago
- Business
- Time of India
MahaRERA lists 1,244 projects ‘under abeyance' in Pune district
Pune: The district has 1,244 projects which cannot entertain fresh bookings or sales since MahaRERA has marked them 'under abeyance' — meaning they have not received completion certificates or applied for deadline extensions. The hard-earned money of many an individual remains stuck as a result. Eleven 11 years on, a Pune IT professional is yet to get possession of his flat in a project on the foothills of Sinhagad. Despite a number of MahaRERA orders in his favour, neither has the project been completed nor has he received a refund. The project is marked under abeyance on the MahaRERA website now, stopping new bookings and sales. The buyer was among the first to invest in the project, which is not even 20% complete. "My money amounting to Rs30 lakh is stuck. The builder is not showing any intent to complete the work. I've stopped following up now, since nothing is moving." You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Another buyer in the same three-building project said that over the years, the association has filed many complaints with MahaRERA. "The initial order of 2017 directed completion by 2018. The project again received an extension till Oct 2020 and March 2025 thereafter. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Real-Time Conversations in 68 Languages? AI Just Made It Possible Enence 2.0 Undo The work has not even started till now," he said, adding his Rs16 lakh are stuck. And, such cases are not isolated, they said. MahaRERA has listed 4,904 real estate projects under abeyance across Maharashtra. Pune district has as many as 1,244 such projects, followed by Thane (548), Raigad (473), Mumbai suburban (441), Nashik (250) and Nagpur (247). MahaRERA officials said projects under abeyance failed to submit completion or extension details despite continuous reminders. "We've issued notices to the developers and given them sufficient time. The projects which failed to comply are barred from registering any new sale or agreement. The project bank accounts have been frozen," they said. The state property registration department was also sent the list of stalled projects to prevent further transactions. Consumer bodies have demanded strict action now. "Buyers cannot execute the sale deed unless completion and occupancy certificates are uploaded. Their partial payment remains stuck indefinitely," said a consumer rights activist, who urged MahaRERA to process refunds in cases of persistent non-compliance. It's common for builders and buyers to enter an agreement for sale, followed by a sale deed after construction is complete and payments made. The agreement for sale outlines terms and conditions and promises certain facilities, while the sale deed transfers ownership legally. Meanwhile, developers' body CREDAI acknowledged the issue, but said delays were also because of lag in website updation. "Many developers have already uploaded their completion certificate (CC), but the abeyance tag remains. We've taken this up," said Sunil Furde, CREDAI's national executive. Requesting anonymity, a developer said, "I uploaded the CC over a month ago, but it's still not reflecting. Such a delay hurts both developers and buyers." RERA Act says developers are mandated to upload both commencement and completion/occupancy certificates to ensure transparency and buyer protection. MahaRERA data showed that only 17,413 of the 50,986 registered projects in the state were marked complete.
India Today
24-07-2025
- Politics
- India Today
Court orders Maharashtra regulatory body to resume hybrid hearing in 4 weeks
The Bombay High Court on Thursday directed the Maharashtra Real Estate Regulatory Authority (MahaRERA) to reinstate the hybrid model of hearings, i.e. allowing parties to opt for either physical or virtual appearances within four weeks. The court held that "procedural fairness includes the right of parties to choose their mode of hearing, especially when both physical and virtual modalities are feasible."advertisementThe direction came after a petition was filed by a city resident seeking timely execution of a 2020 order in his favour and requesting the court to streamline the execution proceedings before MahaRERA. The petitioner highlighted systemic delays, the absence of a mechanism for urgent hearings, lack of physical hearing options post-pandemic, and one-way communication from the bench of Justices Revati Mohite Dere and Neela Gokhale observed that while virtual hearings were introduced due to COVID-19, MahaRERA's continued insistence on a virtual-only model, despite having the infrastructure for physical hearings, was unwarranted and detrimental to access to justice.'Access to justice is a constitutional guarantee and cannot be reduced to a mere formality,' the court said, emphasising that procedural fairness includes the right of parties to choose their mode of judges noted that tribunals, created to provide speedy and decentralised justice, must be accessible in both form and bench noted that even the Apex court has said that "access to virtual hearings alone is insufficient. Denial of physical hearing, even when facilities exist, amounts to an unreasonable fetter on litigants' rights."Accordingly, the court directed MahaRERA to restore hybrid hearings, maintain a register of urgent mentions, timestamp its orders, assign fixed hearing dates and publicly display functional contact details and court made it clear that these directions are aimed at realigning MahaRERA's functioning with the principles of inclusivity, transparency, and timely adjudication. A compliance report has been sought by September 4.- EndsMust Watch
The Hindu
21-07-2025
- Business
- The Hindu
Ghodbunder Road emerges as MMR's affordable real estate corridor
Ghodbunder Road, a neighborhood in Thane has emerged as the Mumbai Metropolitan Region's (MMR) corridor for middle-income housing when most peripheral markets have outpaced wage growth and priced out first-time home buyers. Despite property price escalation in the whole of MMR that too across the country, Ghodbunder Road maintains a unique market position as it continues to attract salaried, end-user buyers. According to data from the Department of Registration and Stamps this location saw 28.1% Year on Year increase in residential sale agreements in FY 2024–25, with over 81% registered to non-investor individuals declaring self-use in affidavits filed under the Maharashtra Stamp Duty Act. One of the major contributors for this is Puranik Builders which holds a large footprint along the corridor. As per MahaRERA filings, the group has delivered over 7.5 million sq. ft. of residential development on Ghodbunder Road since 2000, and houses over 9,000 families across completed phases of its projects. It continues to own large parcel of contiguous developable land, primarily in the Kavesar–Gaimukh zone. Puranik's early entry into the market predates much of the infrastructure now defining the corridor. According to the company it maintained a product mix within the ₹55–90 lakh segment, avoiding large-scale luxury pivoting even post-RERA and post-COVID, when many competitors migrated to upscale housing. 'Ghodbunder Road was never just a real estate opportunity — it was a long-term urban responsibility,' said Shailesh Puranik, Managing Director, Puranik Builders. 'We entered this corridor well before the infrastructure came. Back then, very few developers were thinking about the needs of Mumbai's middle class,' he said. 'But we saw the trend — the gradual displacement of salaried families from core locations — and decided to stay focused on their aspirations. Today, it's clear that patient, infrastructure-aligned housing is what the region truly needed, and continues to need,' he needed. Ghodbunder Road is under evaluation as a pilot zone for Maharashtra's upcoming 'Middle-Income Growth Corridor' initiative — part of the Urban Housing 2040 policy. The corridor has been shortlisted based on four parameters: land price-to-income ratio, end-user housing concentration, metro accessibility, and infrastructure density.
News18
17-07-2025
- Business
- News18
DLF Makes Mumbai Debut With Rs 5.5–7.5 Cr Homes In Andheri's Oshiwara
DLF is launching its first residential project in Mumbai's Oshiwara on July 17, after MahaRERA approval. Leading real estate company DLF is marking its entry into Mumbai by launching its first residential project on July 17. It came after weeks of receiving approval from the Maharashtra Real Estate Regulatory Authority (MahaRERA). The first phase of the 'The Westpark' project will feature over 400 apartments available for sale, according to registration documents reviewed by Moneycontrol. The Gurugram-based firm will unveil the project in the Oshiwara neighbourhood of Mumbai's Andheri suburb. Although DLF is renowned for its luxury and ultra-luxury residential projects in Gurugram and other markets, the Westpark is expected to be a 'premium' project, with prices ranging from Rs 5.5 crore to Rs 7.5 crore. Headquartered in Gurugram, Haryana; DLF is now India's largest listed real estate company with developments across 15 states and 24 cities. It specializes in residential, commercial, retail, hospitality, and infrastructure projects—think apartments, offices, malls, hotels, golf courses, and mixed‑use townships. DLF is a listed firm with the last trading price at Rs 844.95 apiece. For the project at Oshiwara, DLF has partnered with the Trident group. As the project is on a once slum area, Trident is expected to execute the slum rehabilitation project. Trident will handle the rehabilitation part of the project, which includes clearing the land and constructing housing units for slum residents. DLF will focus on the free-sale portion, estimated to be around 9 lakh square feet. residential launches, representing approximately 29% of the total launches across the top 7 cities, as per Anarock report. Another Anarock report added that Mumbai continued to dominate land activity in H1 2025, with the Mumbai Metropolitan Region (MMR) witnessing the highest number of land deals among Tier 1 cities. A total of 24 deals for over 433 acres were recorded, underscoring the region's growing importance in India's real estate landscape despite land scarcity and high costs. view comments First Published: July 17, 2025, 07:17 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
17-07-2025
- Business
- Hindustan Times
DLF re-enters Mumbai market with over ₹800-crore The Westpark project in Andheri; Launches Phase 1 with 416 flats
Delhi-NCR-based real estate major DLF on July 17 announced its re-entry into the Mumbai market with the launch of its premium residential project in Andheri. The first phase of The WestPark will comprise 416 apartments across four towers, with two towers launched on July 17. The company plans to invest over ₹800 crore in the project and expects a topline of over ₹2,000 crore from Phase 1. DLF's The Westpark project in Mumbai will be spread across 10 acres and will feature a mix of 3 BHK and larger apartments ranging from 1,125 sq ft to 2,500 sq ft. In the first phase. (Photo for representational purposes only)(Pexels) "We have launched two towers, and, given the strong response, we plan to launch the remaining two towers ahead of schedule, within the next few days," said Aakash Ohri, Joint Managing Director, DLF Limited. He said that Phase 2, comprising an additional four towers, is expected to be launched next year. According to the company, the entire project is spread across 10 acres and will feature a mix of 3 BHK and larger apartments ranging from 1,125 sq ft to 2,500 sq ft. In the first phase, apartments are priced between ₹40,000 and ₹48,000 per sq ft. The development will also include 845 dedicated car parking spaces, along with separate visitor parking facilities. The project will feature a 50,000 sq ft clubhouse equipped with a wide range of amenities, including a wellness hub, yoga studios, meditation decks, co-working spaces, lounges, and several other lifestyle facilities. Also Read: DLF's Mumbai project set to launch soon as RERA gives green light to first phase with 416 premium apartments DLF RERA approval Last month, DLF received approval from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for this phase, which will comprise 416 apartments across four towers. The approved first phase of the project will offer 3, 4, and 5 BHK apartments, along with a limited number of studio units, according to MahaRERA portal. According to details on the MahaRERA portal, the apartment sizes range from 1,048 sq. ft. to 2,278 sq. ft., while the five studio units each measure around 236 sq. ft. Also Read: 'DLF is here to stay in Mumbai and everyone is our competitor', says Aakash Ohri, joint MD DLF's re-entry into Mumbai DLF announced its re-entry into the Mumbai real estate market in July 2023. The company's first project in the city will be developed in partnership with the Trident Group under the Slum Rehabilitation Authority scheme. In 2005, DLF had purchased 17 acres of prime mill land in Lower Parel at a National Textile Corporation auction for ₹704 crore, the highest bid at the time. After the 2008 economic crisis, it changed its plans and sold the land to Lodha, also known as Macrotech Developers, for ₹2,700 crore in 2012.
