MahaRERA suspends registration of 388 projects including 3 from Macrotech

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Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA), which oversees the real estate market in the Indian state of Maharashtra, has suspended the registration of 388 projects for failing to comply with regulatory requirements. The suspended projects, which cannot be marketed or sold until further notice, include three by Macrotech Developers, a subsidiary of Lodha Group. The regulator has also instructed sub-registrars not to register the sale agreements and deeds of flats in the affected projects. MahaRERA had given developers until 20 April 2023 to upload details of their projects, but the suspended projects failed to do so. The regulator has already uploaded details on 346 projects that complied with the regulations.

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