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Maharera blacklists 189 realty projects in Pune

by sikandar141
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Pune : Deccan ExpressMaharera | The Maharashtra Real Estate Regulatory Authority (MahaRERA) has blacklisted 644 housing projects in the State, which could not be completed during 2017-2019. There are 189 projects from Pune among them. The realtors developing these projects will not be able to buy or sell any properties from these projects. They will not be able to carry out any construction activity at these project sites.

The much talked about Lavasa project, which was halted in 2017, is one of them. The number of projects from Pune form 29 percent of the total blacklisted projects in the State.

The real estate sector received a big setback after Demonetisation and GST implementation in the country. The pandemic further paralysed the sector. Some realtors tried to complete their projects by taking more loans. However, Covid-19 brought these projects to a halt. In this backdrop, MahaRERA blacklisted 650 builders in the State.

The names of blacklisted projects from Pune district and the State is available on this link: https://maharera.mahaonline.gov.in/Site/1128/Lapsed-Projects

Technical fault

Many blacklisted projects have been included due to a technical issue, said Credai National Vice-President Shantilal Kataria. He said once a project is registered with MahaRERA, the registration lapses after three years. If a builder sells all flats, shops and offices in a project before three years but fails to submit a report on the project to MahaRERA, the builder becomes a defaulter. Many builders are included in the list due to this anomaly. Hence, one needs to verify each project independently.

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