If builders don’t update the QPR within a month, MahaRERA will cancel 291 projects.

MUMBAI: MahaRera will revoke the registration of up to 291 real estate projects that have been put on hold if the builders do not submit the projects’ quarterly progress reports by November 10. Of these projects, 46 are in Nashik, 63 are in Pune, and 104 are in MMR.

Around 363 projects whose Forms 1, 2, and 3, which offer information about the status of the project, were not uploaded on the MahaRera website had their registrations terminated by the regulating body. Following that, 72 different project promoters amended their website information and paid a Rs 50,000 fee. MahaRERA had to set a deadline because the other promoters had not updated their information yet.

Only three of the 746 projects that were enrolled for this year’s MahaRERA, according to officials, filed their quarterly progress reports by the deadline of April 20.

After that, the regulatory body issued a 15-day warning the first week of May of this year. MahaRERA then provided a 45-day notice during the third week of July.

Developers of 380 projects replied to the two notices within the allotted 60 days and updated their QPR. The third week of September saw the suspension of the 363 project promoters’ registration since they had not responded to notices. A MahaRera official stated that later, 72’s promoters corrected their progress records and also paid a fine.

Developers who have had their registration cancelled must reapply and pay a fine of Rs 50,000 to have it reinstated, the official continued.