MahaRERA issues show-cause notices to 3,406 lapsed housing projects in Pune

Failure to comply will lead to strict penalties, including suspension or cancellation of the project’s registration, restrictions on the sale of flats, and freezing of associated bank accounts, the authority said.

The Pune region accounted for 3,406 lapsed projects, second only to 5,231 projects in the Mumbai Metropolitan Region. The other affected regions include Nashik (815 projects), Nagpur (548), Sambhaji Nagar (511), Amravati (201), Dadra and Nagar Haveli (43), and Daman and Diu (18).

Micro-monitoring intensifies

Speaking about the crackdown, MahaRERA Chairman Manoj Saunik emphasised the regulatory body’s commitment to homebuyer protection.

“As per the provisions, if developers fail to submit the occupation certificate with Form 4 or seek an extension, MahaRERA will have no alternative but to suspend or cancel the project registration. This also imposes restrictions on the sale and purchase of flats and freezing of project bank accounts. We urge the real estate industry not to put itself into any undesirable situation,” he said.

Saunik added that micro-monitoring of the sector had been intensified through the regulatory authority’s compliance cell to ensure periodic submission of progress reports and status updates.

Under Section 11 of the Real Estate (Regulation and Development) Act 2016, developers must update quarterly project progress and annual reports on the MahaRERA website.