Maharashtra RERA lists 3,425 projects as 'lapsed' across state

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Earlier, 3,371 projects were listed in October, of which 210 received extension, and 200 more projects were added to the list, stated the authorities.

 

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has listed 3,425 projects as lapsed for exceeding the completion deadline.

 

Earlier, 3,371 projects were listed in October, of which 210 received extension, and 200 more projects were added to the list, stated the authorities.

 

The MahaRERA has listed the projects with completion deadlines in 2017, 2018 and 2019 as expired or lapsed. Most of these projects are in Mumbai, Pune, Thane and Raigad. According to the rules, the developers of these projects have been prohibited from selling and marketing the projects before seeking extension of the respective completion date, which will require consent from 51% percent buyers.