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314 Housing Projects In Maharashtra Under Insolvency Proceedings: MahaRERA

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8 months ago

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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.

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Maharashtra

Major Reshuffle in Mumbai Police: Multiple DCPs Transferred

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7 hours ago

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May 30, 2025

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Mumbai, May 30, 2025: In a significant administrative move, the Mumbai Police Establishment Board has ordered the transfer of several Deputy Commissioners of Police (DCPs), following a meeting held on April 30, 2025. The reshuffle aims to enhance operational efficiency and streamline law enforcement across the city.

Part A: Internal Transfers within Mumbai Police

  1. Krishna Kant Upadhyay, previously in charge of Headquarters-1, has been transferred to serve as DCP, Zone 3.
  2. Dattakishan Salgar, who was with the Prohibition and Narcotics Branch, will now head Zone 10.
  3. Mahesh Bhanushali Chimte, earlier in charge of Protection, has been posted to Zone 11.
  4. Narayana Dakhale, who was posted in Zone 6, will now lead the Special Crime Branch.
  5. Vijaykant Namdev Samar, transferred from Zone 7, has been appointed as Port Police DCP.
  6. Prashant Ashokdas Pardeshi, previously responsible for Mantralaya Security, has been posted to Traffic (South).
  7. Ninit Gokhale will now serve in the Special Force Unit (Anti-Naxal Operation).
  8. Vikas Kavade, from Zone 9, has been transferred to Special Branch-2.
  9. Purushottam Ramrao Kale, formerly with Crime Branch-1, is now posted to the Andheri Crime Branch.
  10. Salim Bh. Gulate, previously in Zone 10, will now serve as DCP (Crime Branch, General).

Part B: Transfers from Outside Mumbai to Mumbai

  1. Sameer Arshad Shaikh, Police Officer from Satara (transferred on 23/04/2025), has been posted as DCP, Zone 6.
  2. Rakesh Aol, Police Officer from Akola (transferred on 26/04/2025), has been posted as DCP, Zone 7.
  3. Raj Tilak Roshan, Assistant Commissioner of Police (Law & Order), Maharashtra State, Mumbai (transferred on 27/04/2025), has been posted to the Disclosure Department.

All newly appointed officers have been instructed to take charge immediately and confirm their joining with the Senior Administration Office (PS-3). This major reshuffle is expected to bring fresh leadership to crucial zones and departments within Mumbai Police and is seen as a step toward strengthening the city’s law and order mechanisms.

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Maharashtra

Mumbai Police DCP Internal Transfer Dutta Nalawde Zone 10 and Aslam Shaikh Zone 6 appointed

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8 hours ago

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May 30, 2025

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Mumbai: Internal transfers have been made in Mumbai Police, under which Krishna Kant Upadhyay has been transferred to Zone 3, he was earlier in Police Headquarters 1. DCP Detection Datta Nalawade has been transferred to Zone 10 and Sachin Ganjal has been transferred to Preventive. Mahesh Chamte has been transferred from Protection to Zone 12, Zone 6 Nunath Dhule to Anti-Narcotics Cell, Zone 7 Vijay Kant Sagar to Sea Protection Port Zone, Prasant Pardesi Mantralaya to Traffic South, Nimit Goel from LA to STF EOW, Zone 3 Dattatre Kamble SB 1, Parshottam Karad Cyber ​​Crime, Aslam Sheikh has been transferred to Zone 6. Rakesh Ola has been transferred to Zone 7, Raj Tilak Roshan to Detection Crime Branch, DCPs.

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Maharashtra

Two Arrested in Malvani for Printing Fake Indian Currency Notes

Published

9 hours ago

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May 30, 2025

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Date: 30th May 2025 Location: Malvani, Mumbai

In a major breakthrough, Malvani Police from Zone XI have arrested two individuals involved in the printing and circulation of counterfeit Indian currency notes. The accused were apprehended from the Malvani area of Malad (West), Mumbai, following a tip-off received by Senior Police Inspector Dr. Deepak Hinge.

Acting swiftly on the intelligence, the police raided a rented room near Sai Baba Mandir in Malvani’s Gate No. 8 on 29th May 2025 around 10:30 PM. The operation was led by a special team comprising Crime Detection Unit officers and beat marshals from Malvani Police Station.

During the raid, the police seized a total of 1,000 fake notes in ₹500 denomination, amounting to a face value of ₹5,00,000. In addition, they confiscated tools used in the counterfeiting operation, including a laptop, printer, cutter, ink, and blank note paper. Police estimate the material could have been used to print up to ₹23,30,000 in fake currency.

The arrested individuals have been identified as:

  1. Sampat Saamarya Ujjanpalli (Age 46), originally from Gadchiroli district, Maharashtra.
  2. Hasimoddin Gafur Sheikh (Age 30), resident of Ghansawangi, Jalna district, Maharashtra.

Both individuals have been booked under IPC Sections 489A, 489C, 489D, 34, and other relevant provisions for counterfeiting currency and are currently in police custody.

Senior officials from the Anti-Terrorism Squad (ATS), including senior police inspectors and crime detection teams, played a crucial role in guiding the investigation.

Malvani Police are continuing further investigations to trace other individuals possibly involved in this fake currency network and to understand if there are any links to organized crime syndicates.

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