By Staff Reporter
Total 4389 projects are declared “Lapsed” projects in entire Maharashtra by Maha RERA since inception from 2017. These projects are Lapsed because of various reason.
Central government is mooting an idea to revive these projects in the country through home buyers’ participations.
Out of 4389, 3388 projects are from Pune Division. This is a huge number in Pune alone.
Total 795 projects declared lapsed projects in Palghar District which includes Vasai, Virar and entir Palghar District in Maharashtra by Maha RERA.
Projects are lapsed because of either non extension of compliance date or projects are defunct either in litigation like CIRP process of NCLT or various other reason where the promoters have not extended the date of completion or uploaded various Forms from the project Professionals.
Promoters can apply for extension u/s 6 for one year extension of compliance date. After first extension of one year, a consent of 51% from the allottees is needed in prescribed form to extend compliance date of completion.
Maha RERA have registered about 42000 projects in Maharashtra in total 6 division viz:
- Amaravati Division
- Aurangabad Division
- Konkan Division