Prominent Developers Seek Deregistration of 19 Projects Across Maharashtra
Several prominent real estate developers, including Lodha Group, K Raheja Corp, Puranik, and Lokhandwala Infrastructure, have applied for deregistration of 19 projects across Maharashtra in cities such as Mumbai, Thane, Pune, Nashik, and Nagpur. The list issued by MahaRERA on November 12 highlights that projects include three by Lodha Group in Thane, three by K Raheja Corp in Pune, and one by Lokhandwala Infrastructure in Mumbai’s Lower Parel, among others. MahaRERA has invited public objections within 30 days before finalising the deregistration. Developers can seek deregistration due to reasons like financial challenges, litigation, changes in government norms, or lack of viability.
So far, 138 real estate projects in Maharashtra have been deregistered, including notable names like Raymond Realty, Mahindra Lifespaces, and Wadhwa Group. MahaRERA data reveals over 47,000 projects have been registered since its inception in 2017, with 15,000 completed. The regulator allows deregistration only after settling claims of stakeholders and homebuyers to ensure transparency and fairness in the process. Developers cited in the current deregistration list have not yet responded to inquiries regarding the move.
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