MahaRERA flags 314 housing projects under insolvency, cautions homebuyers

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has flagged 314 housing projects undergoing insolvency proceedings, cautioning homebuyers against purchasing properties in these projects. The list includes developers like Wadhwa Buildcon LLP, HDIL, and RNA Corp. MahaRERA has published the list on its website to prevent homebuyers from being deceived. The projects are at various stages: 56 are ongoing with an average registration of 34%, 194 are lapsed with 61% registration, and 64 are completed with 84% registration. The insolvency proceedings have been initiated by banks, financial institutions, and other entities extending credit to the real estate sector. MahaRERA’s chairman emphasized the importance of homebuyers checking this list before making any purchase decisions to ensure their investments remain safe and protected. This measure is part of MahaRERA’s ongoing efforts to maintain transparency and safeguard homebuyers’ interests.