News: MahaRERA Lets Pune Developer Deregister Stalled Project-16-06-2026
A stalled housing project in Pune has been deregistered by the Maharashtra Real Estate Regulatory Authority (MahaRERA) after it found that every homebuyer had been refunded or settled with and that nobody objected to the developer’s request.
The developer told the authority it no longer wished to continue with the MahaRERA-registered project because of financial difficulties, pendency and preoccupation with other projects. It said the project currently had no allottees, as Deeds of Cancellation had been executed with everyone who had signed an Agreement for Sale and all bookings had been cancelled.
MahaRERA examined records showing that the agreements for sale had been terminated through registered deeds of cancellation. For purchasers who had only made bookings, the developer produced documents showing refunds and affidavits from the buyers acknowledging receipt of the amounts paid.
The authority noted that notices were served on all allottees whose details the promoter had furnished, but none appeared to oppose the request or dispute the claim that all dues and rights had been settled. A public notice inviting objections from interested parties also drew no response.
In its order, MahaRERA said that when it finds a registered project is not likely to be completed, it is bound to take cognisance and act as necessary to bring the project to a conclusion. It saw "no logic" in maintaining a registration number where there are no allottees, or where the promoter has fulfilled its legal obligations to them.
The authority ordered the deregistration and barred the promoter from any future marketing, booking, sale or offering of apartments in the development.
