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videos | IST

Maharashtra real estate authority blacklists 644 housing projects for not meeting project deadlines

The Maharashtra Real Estate Regulatory Authority (MahaRERA) on Friday has blacklisted 644 housing projects in the state and banned any marketing or sale activities for not meeting project deadlines. However, 80 percent of houses in these projects have been sold.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) on Friday has blacklisted 644 housing projects in the state and banned any marketing or sale activities for not meeting project deadlines. However, 80 percent of houses in these projects have been sold.
CNBC-TV18's Yash Jain reports that about 43 percent or 274 projects are in the Mumbai Metropolitan Region, 29 percent or 189 projects are in the Pune region. The remaining 28 percent (181) projects are in Nagpur, Nashik, Kolhapur, Aurangabad, Satara, Ratnagiri and Sangli.
At least 85 percent or 547 projects are small-sized with an average of 70 units per project. As of date, 29,884 real estate projects have been registered under MahaRERA in the state, of which 24 percent or 7,245 projects are already completed.
Watch video for more.