The Maharashtra Real Estate Regulatory Authority has issued show-cause notices to 8,212 housing projects across the state for failing to submit mandatory quarterly progress reports for the January–March period, raising fresh concerns around transparency in the real estate sector.
Out of 33,029 registered ongoing projects, more than 8,000 did not file their quarterly disclosures. These reports are critical as they provide updates on construction status, number of units sold, financial progress, and any revisions to project plans. Officials said the lack of such information leaves homebuyers without clarity on project timelines and delivery.
Developers have been given a 60-day window to comply. Failure to do so could lead to strict penalties, including freezing of project bank accounts, suspension or cancellation of registrations, and restrictions on advertising and marketing. Non-compliant developers may also be barred from registering sale agreements and could face a penalty of Rs 50,000.
“Developers must comply with disclosure norms. MahaRERA will not hesitate to cancel or keep registrations in abeyance if quarterly reports are not updated despite repeated follow-ups,” said chairman Manoj Saunik, adding that such situations should ideally be avoided.
The highest number of defaults has been recorded in the Mumbai Metropolitan Region and Konkan belt, with 4,644 projects. Within this cluster, Thane leads with 1,475 projects, followed by Mumbai Suburban (1,263), Raigad (842), Palghar (612), and Mumbai City (267).
The Pune region reported 2,311 defaulting projects, including 1,957 in Pune district alone. Other regions include Khandesh (511), Vidarbha (483), and Marathwada (238), with smaller numbers reported from Dadra and Nagar Haveli and Daman.
Authorities said stricter enforcement of disclosure norms is being prioritised to improve accountability and restore confidence among homebuyers in the property market.
Source: The Indian Express
