Real Estate Under Watch: MahaRERA Tightens Checks on Lapsed Project Certifications

Crackdown on Fraudulent Project Registrations

Amid growing complaints of developers submitting forged documents to obtain project registrations, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has reportedly launched a comprehensive verification drive of Occupation Certificates (OCs) for lapsed housing projects.

Detailed Verification Initiated

According to officials, MahaRERA has issued notices to developers of lapsed projects, leading to 3,699 project promoters declaring that their projects have been completed. An OC, it was explained, is a crucial document granted by municipal or planning bodies confirming that a building has been constructed per approved plans and is fit for occupancy.

Planning Authorities Put on Notice

MahaRERA has stated that it is dispatching details of these projects to the respective planning authorities across Maharashtra, requesting them to authenticate whether the uploaded OCs are genuine. The authorities have been given a 10-day window to confirm the status. In cases where no reply is received within the deadline, MahaRERA has indicated it will presume the certificates are valid and mark the projects as completed accordingly.

Responsibility Clause for Planning Bodies

In its communication to planning authorities, MahaRERA has reportedly made it clear that if any discrepancies are discovered later, the full risk and responsibility will rest with the respective authority that failed to verify on time. The 3,699 projects under review include:

Background: Previous Real Estate Scam in Kalyan-Dombivli

The drive follows past instances where large-scale real estate frauds were detected, notably in the Kalyan-Dombivli belt, where developers were found constructing buildings using counterfeit documents, eventually leading to demolitions and displacement of residents.

Strengthening Compliance Measures

Under existing rules, MahaRERA mandates registration of all housing projects and requires developers to submit quarterly updates and annual audits. Completion requires submission and approval of a genuine OC, after which developers can access funds from escrow accounts. Experts noted that MahaRERA's current move is poised to reinforce compliance, increase industry transparency, and bolster trust among homebuyers and investors.

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