Festive surge: MahaRERA approves 405 realty projects across Maharashtra

MahaRERA approved 405 new real estate projects during Dussehra - its highest-ever single-day festive clearances - with a total of 809 approvals, extensions and corrections across Maharashtra

The Maharashtra Real Estate Regulatory Authority (MahaRERA) approved 405 new projects with registration numbers on the auspicious occasion of Dussehra — the first time such a large number of project approvals have been issued during the festival.

 

On the eve of Dussehra alone, 200 projects were granted certificates of approval. In line with developers’ submitted proposals, MahaRERA also granted timeline extensions and permitted corrections to existing projects.

 

809 total clearances including new projects, extensions, and corrections 

In total, 809 applications were approved for new registrations, extensions, and corrections. Of these, 405 projects received new registration numbers, deadlines for 209 projects were extended, and 195 existing projects were granted correction approvals.

 

Pune leads approvals, Mumbai region close behind 

Pune city topped the list with 122 projects, followed by the Mumbai Metropolitan Region, which accounted for 197 projects. This included 63 from Mumbai city and suburbs, 58 from Thane, 41 from Raigad, 22 from Palghar, nine from Ratnagiri, and four from Sindhudurg.

 

4,940 projects cleared in six months 

Between April 25 and September 25, MahaRERA approved 4,940 project proposals. Of these, 2,039 were new housing projects granted registration numbers, while 1,748 received timeline extensions and 1,153 secured approvals for corrections.

 

Festive approvals reflect regulator’s proactive approach 

“In the real estate industry, the auspicious festive occasions of Dussehra and Diwali hold equal importance. Therefore, MahaRERA is ensuring that housing projects meeting the legal, technical, and financial criteria are granted the nod. For this, the entire registration department is making due efforts,” the authority said in a statement issued on Thursday.

 

Ensuring transparency and accountability in Maharashtra’s housing sector 

MahaRERA, established under the Real Estate (Regulation and Development) Act, 2016, serves as Maharashtra’s governing authority for real estate. It aims to ensure transparency and accountability in property transactions while safeguarding the interests of homebuyers and developers alike.