Connect with us
Wednesday,16-October-2024
Breaking News

Maharashtra

314 Housing Projects In Maharashtra Under Insolvency Proceedings: MahaRERA

Published

on

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has informed that a total of 314 projects registered with the Authority are undergoing proceedings at the National Company Law Tribunal (NCLT) under the insolvency and bankruptcy code. The real estate regulator has published the list on its website to prevent homebuyers from getting deceived.

The insolvency and bankruptcy proceedings have been initiated by various banks, financial institutions, and other entities extending line of credit to the real estate sector.

Among these 314 projects, significant investment has been made. Of them, 56 are ongoing projects with an average registration of apartments at over 34%. Likewise, among the balance 194 projects that are lapsed, the average registration done is over 61%. The balance 64 projects have been completed, with a registration rate of 84% for the apartments.

MahaRERA has initiated several measures to keep a check of all real estate projects. Not only the information shared by the developers is verified, but also keeps itself abreast with project’s status through other sources. The list of projects facing proceedings in NCLT has been compiled based on information obtained from various sources and verified through the relevant authorities’ as well.

Stating that the Authority is consistently working to ensure that homebuyers’ investments remain safe and protected, MahaRERA Chairman Manoj Saunik said, “The MahaRERA has compiled this crucial information of the projects undergoing insolvency and bankruptcy proceedings from various sources and has also verified the same from NCLT’s website. A comprehensive and compiled list has been made public for the larger interest of the homebuyers. The list of 314 projects undergoing insolvency and bankruptcy is part of the efforts to alert the homebuyers and prevent them from getting deceived. In April 2023, MahaRERA had brought out a district wise list of 308 such projects, which proved to be helpful to several homebuyers. MahaRERA appeals to everyone to check this list prior to deciding on purchasing a property.”

About The Projects

Of the 88 projects in Suburban Mumbai, 51 are 70% invested. Similarly, in Pune, of the 50 projects, 75% of 45 projects are already booked. In Thane, 52 out of 106 projects have investments of 50%. In Palghar, 16 out of 18 projects are 74% booked.

In Solapur, all the 5 projects have 87% investment. In Nagpur, both the projects have 60% investment and the sole lapsed project in Chhatrapati Sambhajinagar is 55% invested.

Additionally, out of the 9 lapsed projects in Mumbai City, 2 of them already have an investment of 68%. In Nashik, there is 34% investment in all the 3 lapsed projects. Whereas, in Raigad, of the 15 lapsed projects, 13 are 32% invested.

Of the 56 ongoing projects, 21 are from Mumbai suburbs (with 38% investment), 20 in Thane (28% investment), 6 in Mumbai City (31% investment), 5 in Pune (41% investment), 2 in Palghar (65% investment), 2 in Raigad (9% investment) and 1 in Ratnagiri (nil investment).

Among the 64 completed projects, 35 are in Thane and 18 in the Mumbai suburbs. Additionally, there are 9 projects in the Haveli area and 2 in Pune. The total percentage of registration done is 91% for housing projects in Thane, 87% of the apartments in Mumbai suburbs are registered, and 96% in case of projects in Pune. On an average, 84% of the apartments in all the completed projects have been registered.

It is unclear if these 314 projects undergoing insolvency and bankruptcy proceedings, are still accepting new customers. Hence, to ensure transparency and prevent homebuyers from getting deceived, MahaRERA has compiled the list and published it on its portal, as it is of the view that it will help in alerting and guiding people. MahaRERA has appealed to the homebuyers to go through the list prior to purchasing a home.

Maharashtra

Maharashtra Elections 2024: ‘Our Hindutva Is Not Double Standard’, Aaditya Thackeray Attacks BJP

Published

on

Maharashtra Elections 2024: 'Our Hindutva Is Not Double Standard', Aaditya Thackeray Attacks BJP

Mumbai: As the dates of the Maharashtra assembly elections come close, the political atmosphere in the state is heated with politicians engaging in verbal attacks. Shiv Sena (UBT) leader Aaditya Thackeray once again attacked the BJP saying the it engages in double standard Hindutva. “We are against ‘Fake Hindutva’ and we do not tell people what to eat and what to dress,” Thackeray said.

Aaditya Thackeray, the MLA from Worli, Mumbai said, “I want to ask why India played a bilateral cricket series with Bangladesh when Hindus are being attacked there. We are against this double standards. We protect our religion when we have to.”

“The current CM is a contractor minister, and Maharashtra knows it. My father (Uddhav Thackeray) was backstabbed when he was at his lowest after his two surgeries. But here is about where Maharashtra moves forward. The state known for its law & order, and open society is now forced into BJP ideology. God forbid, even if I lose, I will continue fighting for Mumbai and Maharashtra and its sale to two contractor friends CM Eknath Shinde,” Aaditya Thackeray further said in the interview.

On Tuesday, after the election commission announced the schedule for Maharashtra assembly elections, Aaditya Thackeray had said that, “We have been seeing the loot of Maharashtra for the last 2 years, we (Shiv Sena UBT) now hope to get justice in the court of the people,” he said.

The elections for the 288 assembly constituencies in Maharashtra will be held on November 20 in a single phase and results will be declared on November 23.

Continue Reading

Maharashtra

Maharashtra Elections 2024: ‘Mahayuti Will Bring More Schemes On Lines Of Ladki Bahin Yojana’, Says CM Shinde; Releases 2-Year Report Card

Published

on

Maharashtra Elections 2024: 'Mahayuti Will Bring More Schemes On Lines Of Ladki Bahin Yojana', Says CM Shinde; Releases 2-Year Report Card

Mumbai: Ahead of the Maharashtra assembly elections, Mahayuti leaders Eknath Shinde, Devendra Fadnavis and Ajit Pawar released a ‘report card’ of the Mahayuti government’s performance in last 2 years. While, releasing the report, the CM and his deputies said that the Ladki Bahin Yojana was a successful scheme and more schemes on these lines will be introduced. Financial provision will be made to successfully implement the schemes, the leaders added.

The Mahayuti leaders highlighted that the toll tax exemption was in their election manifesto and they have kept their promise. CM Eknath Shinde said that the ruling Mahayuti alliance leaders are working as a team and launching schemes for the benefit of the common man. While, Deputy CM Ajit Pawar slammed the opposition Maha Vikas Aghadi for spreading rumours and highlighted successful government initiatives like the Ladli Bahna Yojana, which have significantly benefited women.

The 2-year report card of the 2.5-year-old Mahayuti government was released on Wednesday in the press conference where Mahayuti alliance leaders including Ramdas Athavale, Praven Darekar, Sunil Tatkare had also joined.

Deputy CM Devendra Fadnavis slammed the MVA for criticising the Ladki Bahin Yojana and said, “If the MVA says the government does not have funds to run the Ladki Bahin scheme, on what grounds do they promise to continue the scheme if they come to power.” The MVA will discontinue the scheme, Fadnavis said. Till now at least 4 to 5 instalments have been deposited in the accounts for Ladki Bahin scheme for more than 2.5 crore beneficiaries of our state,” he added.

Meanwhile, Ajit Pawar reiterated that Ladki Bahin scheme is not a temporary scheme, it is a permanent one, while the government will think on increasing the monthly installment.

The political atmosphere in the state is heated as the election dates for the assembly polls are announced. The election commission of India announced the voting schedule on Tuesday and the model code of conduct of conduct has began in Maharashtra.

The elections for 288 assembly seats in Maharashtra will be conducted in a single phase on November 20 and results will be declared on November 23.

Continue Reading

Maharashtra

Mumbai: Fire In Andheri’s Lokhandwala Complex Claims 3 Lives, Including 2 Senior Citizens

Published

on

Mumbai: Fire In Andheri's Lokhandwala Complex Claims 3 Lives, Including 2 Senior Citizens

Mumbai: A residential highrise in Mumbai’s Lokhandwala Complex, Andheri West caught fire on Wednesday morning in which three residents have lost their lives. As per information provided by Brihanmumbai Municipal Corporation (BMC), the blaze was not major, however, three residents, including two senior citizens who were injured in the mishap were taken to Cooper Hospital. The injured were declared dead on arrival by the hospital.

As per the statement issued by BMC, the fire broke in the ground plus 14 floored Riya Palace, Cross Road Number 4 in Lokhandwala Complex, Andheri West. The fire was confined to an apartment on 10th floor. The blaze erupted at 8.05 am and was extinguished within an hour of firefighting operations.

The blaze was confined to a residential apartment on 10th floor. The injured: Chandraprakash Soni (74), Kanta Soni (74) and Pelubeta (42) were taken to Cooper Hospital, however the Chief Medical Officer declared all three dead on arrival, the BMC informed.

The cause of the fire is still not known and further investigations are underway.

Second Fire In Lokhandwala Complex In A Month

This is the second fire in the post locality of Lokahndwala Complex in Mumbai’s Andheri within a month. On September 19, a blaze broke out in a ground-plus-one-floor bungalow in the complex. No injures were reported in the incident. However, the video of the fire in the bungalow had surfaced on the internet, showing thick smoke engulfing the area, resulting in a scare among residents of Lokhandwala Complex.

The incident has taken place in Bungalow No.11, Cross Road No 2, Steller Bungalows, Lokhandwala Complex, Andheri West.

Continue Reading
Advertisement
Advertisement

Trending