**MahaRERA Lists 314 Real Estate Projects Undergoing Insolvency Proceedings at NCLT**

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced that a total of 314 real estate projects registered with the Authority are currently undergoing proceedings at the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code. To protect homebuyers from potential fraud, the real estate regulator has published this list on its official website.

### Background

These insolvency and bankruptcy proceedings have been initiated by various banks, financial institutions, and other entities providing loans and credit to the real estate sector. Significant investments have already been made in many of these projects.

Among the 314 projects:

– **56 are ongoing projects**, with an average registration of apartments at over 34%.
– **194 projects have lapsed**, with an average apartment registration of over 61%.
– **64 projects have been completed**, with an average registration rate of 84% for the apartments.

### MahaRERA’s Monitoring and Verification Efforts

MahaRERA has undertaken several measures to closely monitor all real estate projects. The Authority not only verifies the information provided by developers but also tracks project statuses through various additional sources. The list of projects facing insolvency proceedings has been compiled using verified information obtained from relevant authorities, including cross-checks with the NCLT website.

### Statement from MahaRERA Chairman Manoj Saunik

MahaRERA Chairman Manoj Saunik stated,
*”The Authority is consistently working to ensure that homebuyers’ investments remain safe and protected. We have compiled critical information about projects undergoing insolvency and bankruptcy proceedings from various sources and verified it with NCLT’s official website.”*

He added, *”This comprehensive list of 314 projects has been made public in the larger interest of homebuyers. Our goal is to alert and prevent potential deception among homebuyers. Earlier, in April 2023, MahaRERA had released a district-wise list of 308 such projects, which proved helpful to many homebuyers. We strongly urge everyone to check this updated list before making any property purchase decisions.”*

### Project-Wise Investment and Registration Details

– **Suburban Mumbai:** Of the 88 projects, 51 have received 70% investment.
– **Pune:** Out of 50 projects, 45 are already 75% booked.
– **Thane:** 52 out of 106 projects have 50% investment.
– **Palghar:** 16 of 18 projects are 74% booked.
– **Solapur:** All 5 projects have 87% investment.
– **Nagpur:** Both projects show 60% investment.
– **Chhatrapati Sambhajinagar:** The sole lapsed project is 55% invested.
– **Mumbai City:** Of 9 lapsed projects, 2 have 68% investment.
– **Nashik:** All 3 lapsed projects show 34% investment.
– **Raigad:** Of 15 lapsed projects, 13 are 32% invested.

Among the **56 ongoing projects**:
– 21 are in Mumbai suburbs with 38% investment.
– 20 in Thane with 28% investment.
– 6 in Mumbai City with 31% investment.
– 5 in Pune with 41% investment.
– 2 in Palghar with 65% investment.
– 2 in Raigad with 9% investment.
– 1 in Ratnagiri with no recorded investment.

Regarding the **64 completed projects**:
– 35 are in Thane
– 18 in Mumbai suburbs
– 9 in Haveli area
– 2 in Pune

The registration rates for apartments in completed projects are:
– 91% in Thane
– 87% in Mumbai suburbs
– 96% in Pune

On average, **84% of apartments in completed projects are registered**.

### Important Advisory for Homebuyers

It remains unclear whether these 314 projects currently undergoing insolvency and bankruptcy proceedings are accepting new customers. To ensure transparency and safeguard homebuyers, MahaRERA has published the list on its portal.

The Authority urges all prospective homebuyers to thoroughly review this list before deciding on any property purchase. This initiative aims to alert homebuyers, enabling them to make informed decisions and avoid potential risks.

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For detailed information and to view the full list of projects undergoing insolvency proceedings, visit the [MahaRERA official website](https://maharera.mahaonline.gov.in/). Always verify project details before investing in real estate.
https://www.freepressjournal.in/mumbai/314-housing-projects-in-maharashtra-under-insolvency-proceedings-maharera