Nagpur: The Maharashtra Real Estate Regulatory Authority has issued show-cause notices to 391 housing projects in Nagpur for failing to submit mandatory quarterly progress reports (QPRs), putting a large section of the city’s real estate sector under scrutiny.
The action is part of a wider statewide drive, with authorities warning of strict penalties if developers do not comply within the stipulated timeline.
Nagpur Tops Vidarbha in Notices
The move is part of a larger crackdown involving 8,212 projects across Maharashtra. In the Vidarbha region alone, 483 projects have been served notices, with Nagpur accounting for the highest share at 391.
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Other districts include:
- Amravati: 135 projects
- Chandrapur: 113 projects
- Bhandara: 104 projects
- Akola: 12 projects
- Buldhana: 10 projects
- Wardha: 10 projects
- Yavatmal: 4 projects
- Washim: 4 projects
Why Action Was Taken
MahaRERA stated that developers failed to file Quarterly Progress Reports for the January–March period, a requirement under the Real Estate (Regulation and Development) Act.
These reports are essential for:
- Tracking project progress
- Monitoring financial transparency
- Informing homebuyers about construction and fund usage
60-Day Deadline for Compliance
Developers have been given 60 days to respond to the notices. Failure to comply may lead to:
- Cancellation of project registration
- ₹50,000 penalty for reactivation
- Ban on marketing, advertising, and sale of units
- Freeze on project-related bank accounts
Focus on Buyer Transparency
According to MahaRERA norms:
- 70% of funds collected from buyers must be kept in a separate escrow account
- Withdrawals require certification from an engineer, architect, and chartered accountant
- Even in case of no transactions, a ‘NIL’ report must be filed
Authorities said non-compliance with these requirements is considered a violation of homebuyer rights.
Impact on Nagpur Real Estate Sector
The action is expected to have a direct impact on developers in Nagpur, increasing compliance pressure and potentially affecting ongoing project marketing and sales.
Experts say the move could improve long-term transparency but may lead to short-term disruptions in the market.
What Happens Next
- Developers must submit pending QPRs within 60 days
- MahaRERA will review responses and decide further action
- Buyers are advised to track project updates through official channels
