PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has received applications for cancellation of registration for 107 projects, including 41 in Pune.
The earlier tally was 88 following which an additional 19 new applications were received for cancellation, a MahaRERA official said. So far, there has been no response from consumers regarding applications from developers for deregistration for the earlier 88 proposals. So, the authority has decided to extend the timeframe till July 7 for suggestions and objections regarding deregistration of these projects, the official added.
Since then the number of proposals for cancellation in Pune has steadily increased from 39 projects by the end of May to a total of 41 projects. The complete list of these projects is available on the MahaRERA website.Of the 107 projects, 41 are in Pune, 16 in Raigad, 12 in Thane, 6 in Palghar, 5 in Mumbai suburbs, 4 in Mumbai city, and 3 each in Sindhudurg, Parbhani, Nashik, Nagpur.
Several housing projects have failed to materialize due to various reasons such as lack of funds, financial unviability, ongoing court cases, family disputes etc. Additionally, if the cancellation affects other parts of the overall project, MahaRERA stipulates that consent from 2/3 of the allottees is necessary. Further, if cancellation of registration is sought for a project that has incurred minimal registration dues, that will have to be settled. Also, there should be no objection to cancellation from concerned parties. Read more...