Prominent real estate developers, including Lodha Group, K Raheja Corp, Puranik, and Lokhandwala Infrastructure, have applied for the deregistration of 19 projects in various cities across Maharashtra. These cities include Mumbai, Thane, Pune, Nashik, and Nagpur.
According to a list issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA), three of the projects up for deregistration are by Lodha Group (operating as Macrotech Developers and Palava Dwellers Private Limited) in Thane district. K Raheja Corp has applied for deregistration of three projects in Pune district, while Lokhandwala Infrastructure Private Limited has one project listed in Mumbai’s Lower Parel.
The list, issued on November 12, also includes one project each from Mumbai, Nashik, Nagpur, Kolhapur, and Daman, along with seven projects from Pune district and other districts in Maharashtra.
MahaRERA has invited public objections to the deregistration applications within 30 days from the date of the list’s issuance. According to the regulator, developers can seek deregistration for various reasons, including lack of funds, economic non-viability, ongoing litigation, family disputes, and changes in government norms that restrict construction.
Under Section 34 of the Real Estate (Regulation and Development) Act (RERA), one of MahaRERA’s functions is to register and regulate real estate projects and agents. In February 2023, MahaRERA allowed deregistration of projects deemed unviable, financially troubled, or with poor market response, provided that the claims of homebuyers and other stakeholders are settled.
To ensure transparency and protect stakeholder interests, MahaRERA invites public objections before deregistering any project.
As of now, 138 real estate projects in Maharashtra have been deregistered, according to MahaRERA data. These include projects by developers such as Raymond Realty, Mahindra Lifespaces, Macrotech Developers (Lodha), and Wadhwa Group. The majority of deregistered projects are in the Mumbai Metropolitan Region, Pune, Nagpur, and Nashik.
Since its inception in May 2017, MahaRERA has registered over 47,000 projects in Maharashtra, with 15,000 projects completed to date.
