De-registration of 107 projects: MahaRERA gives 15 more days for filing suggestions/objections

Projects of several well-known developers such as Hubtown’s two projects namely Solaris 14 floor (Andheri) and Hubtown Siddhi (Thane), Ashwin Sheth’s project named Sheth Vasant Lawns of Thane have been figured in the list of de-registration.

According to MahaRERA, in response to its notification on February 10 allowing developers to apply for de-registration of projects with some conditions, it has received responses from developers for deregistration. These projects are in Pune, Raigad, Thane, Mumbai City, Sindhudurg and Palghar, Nashik, Nagpur, Chhatrapati Sambhaji Nagar, Satara, and Mumbai Suburb, Kolhapur, Nanded, Latur, Ratnagiri and Dadra Nagar Haveli.

As per MahaRERA, many a times, developers register a particular project but for reasons such as lack of funds, family dispute, litigation, viability of the project, change in government planning authority notification etc, they would not be able to carry out the project. In such a situation, MahaRERA allows deregistration.

While the rules stipulate that the developer should fulfil the conditions laid down for deregistration of the projects which have bookings, such projects shall be considered if the rights of the allottees are settled by the promoter and documents to that effect are submitted for verification.

Similarly, if a project is taken up in phases and if a developer wishes to de-register some phases of the project and in such case if the homebuyers/allottees are getting affected, it should first get the consent of two-thirds of the allottees for deregistration process approval.