MahaRera has completely prohibited sale, advertising or marketing of houses of these residential projects
Nagpur: In a major crackdown on errant builders, the Maharashtra Housing Regulatory Authority (MahaRera) has blacklisted 644 projects across the state for delay in completion. MahaRera has completely prohibited sale, advertising or marketing of houses of these residential projects. Incidentally, 80% of houses in these projects have been sold
Anarock Property Consultants, a real estate consultancy firm which analysed the data, has revealed that of the 644 projects, 16% were to be completed by 2017, while 84% had 2018 as their deadline.
The Mumbai Metropolitan Region (MMR) leads the pack with 274 (43%) of the total 644 blacklisted projects, followed by Pune with 189 (29%) houses. The remaining 28% (181) projects are in Nagpur, Nashik, Kolhapur, Aurangabad, Satara, Ratnagiri and Sangli.
Prominent Builders whose project have been blacklisted in Nagpur includes Pyramid Ventures India Pvt Ltd – Pyramid City 2, MAHALAXMI INFRA – MAHALAXMI NAGAR 1, Luxora Infrastructure Private Limited- Park Mansion, SHIBAAM INFRACON PRIVATE LIMITED-ROYAL HEIGHTS, MHADA(Nagpur Board) – Construction of 320 flats under HIGHS at MHADA City Empress Mill No.-5, NAVNIT STAR REALTY LLP- CANAL HEIGHTS, M/S ORANGE AND COTTON REALITIES- MUSK
Anuj Puri, chairman of the consultancy firm, called the step a positive move. “This move by MahaRera sends out a strong signal to errant developers who have been delaying projects incessantly. Homebuyers have been waiting to get possession since 2017 and 2018,” he said, adding that all these projects were being developed by local developers and not by any reputed or leading developer.
The promoter shall not advertise, market, book, sell or offer for sale, or invite persons to purchase in any manner any plot, apartment or building, as the case may be, in any of these projects. Source maharera
Nagpur Lapsed Projects
The Validity of MahaRERA Registration for the following Projects in Nagpur has expired.