Deregistration okayed for two projects in state by MahaRERA

Dated on: Wednesday 17th May 2023

On Tuesday, authorities said that out of the 60 petitions it received, the Maharashtra Real Estate Regulatory Authority (MahaRERA) had approved the deregistration of two projects in the state. Developers may deregister their projects under specific circumstances, according to a February ruling from the authority. This provision was introduced to address the challenges faced by developers who are unable to initiate or complete construction work. The MahaRERA permits the deregistration of real estate projects without any homebuyers. However, if there are homebuyers involved, deregistration will only be considered if the developer resolves the rights and claims of these buyers. This order was issued on February 10, earlier this year.

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