MahaRERA Record - Over 4000 Projects Registered in 2023-24

In the fiscal year 2023-24, MahaRERA witnessed a significant milestone, registering 4,332 projects out of 5,471 applications. Officials highlighted that the remaining applications are under meticulous review, ensuring the integrity and compliance of each project.

Pune, Thane, and Mumbai Suburban lead the numbers

Pune emerged as the frontrunner in project registrations, boasting 1,172 projects, while Thane and Mumbai Suburban followed with 597 and 528 projects respectively. The unprocessed proposals are currently undergoing a rigorous scrutiny process, officials added.

Enhanced Verification Measures to Curtail Fraud

In response to incidents like the Kalyan-Dombivli case, where developers were found submitting falsified documents, MahaRERA introduced stringent measures. Local authorities have now been directed to verify developers' commencement certificates, either through direct email correspondence or by integrating their websites with MahaRERA. This move is aimed at fortifying the verification process and safeguarding the real estate sector from fraudulent activities.

Strong Scrutiny for Project Approvals

From June 19 of the previous year, it became compulsory for developers to secure a commencement certificate from planning authorities as part of the project application process. Officials explained that every project proposal must undergo validation by local authorities, a procedure that demands time for thorough examination.

Three-Tier Evaluation to Ensure Project Integrity

To guarantee the timely and efficient completion of projects, MahaRERA implements a comprehensive evaluation encompassing legal, financial, and technical aspects. Currently, 1,139 projects are under such evaluation. Officials assured that once these projects address any discrepancies and meet all requirements, they will be granted registration numbers.

Regional Overview of Project Approvals

A regional breakdown reveals that the Mumbai Metropolitan Region (MMR), which includes Mumbai, Mumbai Suburban, Thane, Raigad, also known as the Konkan Region, led with 1,976 new projects. The Pune region, encompassing Pune, Kolhapur, Solapur, Sangli, and Satara, secured the second-highest number of approvals with 1,415 projects. Vidarbha followed with a commendable tally of 437 projects.