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Maharashtra

314 Housing Projects In Maharashtra Under Insolvency Proceedings: MahaRERA

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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.

Maharashtra

High Court To Decide On Nawab Malik Bail Plea

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Taking cognizance of the allegation that former state minister and NCP (Ajit Pawar faction) leader Nawab Malik seems fit and healthy, ashes freely roaming around and campaigning for the assembly election, the Bombay High Court will decide on his bail plea on merit, Justice Manish Pitale said he will decide on the main bail plea while hearing a petition filed by one Samson Pathare, seeking the cancellation of Malik’’s medical bail.

Pathares plea contended that Malik had neither undergone any surgery nor hospitalisation. “He has prima facie misled the court and is misusing the liberty granted to him” the plea added.

Malik was arrested on February 22, 2022, by the Enforcer Plea in HC says NCP leader, out on medical bail, seems ‘fit & healthy’ ment Directorate (ED), in an alleged money laundering case related to underworld fugitive Dawood Ibrahim and his aides.

He was granted interim medical bail by the Supreme Court in August 2023 to undergo treatment for his failing kidneys and needing ‘hospitalisation and continuous treatment.

He is currently competing in the assembly election from the Mankhurd-Shivaji Nagar assembly constituency. Pathare’s advocate, Chandrakant Mishra, argued that, apart from misleading the court about his medical condition, Malik has violated the conditions imposed on him while being granted bail.

He has stayed outside the jurisdiction of the PMLA court for more than four days. Mishra pointed out that Malik has been giving statements to the media, holding election rallies, and “roaming the whole of Maharashtra.” After going through the order dated August 5, 2023, by which Malik was granted bail, Justice Pitale remarked that one of the conditions was that if he went outside the jurisdiction of the PMLA court for four days, he would have to inform the trial court about the itinerary.

And if the stay was going to be for more than four days, he would have to obtain prior permission. Malik’s advocate, Taraq Sayed, asserted that the NCP leader had not stayed outside the PMLA court’s jurisdiction for more than four days. Remarking that it was a serious allegation, the court questioned Mishra about the evidence to support his claim.

“It’s a serious violation that he is remaining outside PMLA court jurisdiction for more than four days. What is the material filed to support allegations?” asked Justice Pitale. Mishra responded by saying he would submit videos and photographs to prove that Malik had violated bail conditions. Justice Pitale noted there was no urgency to hear the plea seeking the cancellation of Malik’s bail, but said, he would decide the NCP leader’s bail plea on merit, instead.

The court, in its order, noted that the application seeking cancellation of Malik’s bail, “falls short of supporting allegations” by Pathare. The court has granted liberty to Pathare to place on record, in two weeks, material/ documents to support his allegation of the violations of bail conditions by Malik. “Since the allegation is that the interim bail was granted on medical condition and after order, said respondent (Malik) is freely roaming around, indicating that he is fit and healthy, it will be appropriate that the main bail application is listed for hearing at the earliest,” Justice Pitale noted. HC has kept Pathare’s plea for hearing along with Malik’s main bail plea on December 9

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Crime

Mira-Bhayandar: Police Busts Illicit Liquor Brewing Den In Nallasopara

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Mira Bhayandar: Further tightening their screws against illicit liquor mafia ahead of the assembly elections scheduled to be held on 20, November, the Mira Road-based central crime branch unit attached to the Mira Bhayandar-Vasai (MBVV) police busted yet another massive illicit liquor brewing unit which was operating from a hillock in a dense jungle area in Nallasopara on Thursday.

Acting on a tip-off, a team led by assistant police inspector- Dattatray Sarak marched 2-kilometre-deep inside the jungle area located in the Dhaniv Baug area of Nallasopara (east) at around 8 am.

The team seized multiple barrels of hooch along with ingredients including 2,800 litres of fermented jaggery wash, 140 litres of liquor, chemicals and other manufacturing equipment collectively worth more than Rs. 1.42 lakh.

However, the den operator identified as- Prabhakar Bhoye and his employees managed to evade the police dragnet. The entire material and equipment were destroyed on the spot.

An offence under the relevant sections of the Maharashtra Prohibition Act-1949 for construction/works of any distillery or brewery and manufacturing intoxicants has been registered in this context at the Pelhar police station.

The consumption of illicit liquor which is unscientifically manufactured by using toxic chemicals like methanol and rectified spirit can cause deaths and other serious ailments including loss of eyesight. Further investigations were underway.

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Maharashtra

Mumbai Weather Update: Lowest Temperature Recorded In Dream City; Check Out AQI & More

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Mumbai: The winter season in Mumbai has always been ever-changing in nature due to topography and climate change. While the temperature rises during the noon, mornings and nights are comparatively pleasant. The lowest temperature was recorded this year in the city’s Santacruz area, giving hope of winter’s arrival. However, the India Meteorological Department (IMD) has predicted a rise in temperatures in the upcoming days.

Lowest Temperature Recorded

As per a Hindustan Times report, Mumbai experienced a minimum temperature drop below 20 degrees Celsius for the first time this year on Thursday, with Santacruz registering a morning low of 19 degrees Celsius, 2.6 degrees lower than usual. According to a prediction from the India Meteorological Department (IMD), temperatures are expected to increase in the upcoming days.

Today’s Weather Report

Today, on November 15, 2024, the weather in Mumbai shows a temperature of 29°C, with a forecast of 23°C as the minimum and 36°C as the maximum. The humidity level is at 54% with a wind velocity of 6 km/h. The sun will rise at 06:46 AM and set at 06:00 PM.

The forecast for today predicts morning fog with a chance of partly cloudy skies later on. Please organise your day based on the temperature and expected weather patterns. Have fun in the sun, but remember to bring your sunscreen and sunglasses when you enjoy the nice weather.

Tomorrow’s Weather Forecast

The forecast for Mumbai on Saturday, November 16, 2024 is a low of 27.54 °C and a high of 30.53 °C. The humidity is expected to reach 52% tomorrow.

Mumbai AQI Today

Today, the Air Quality Index (AQI) in Mumbai is at 119, categorised as moderate. The India Meteorological Department (IMD) has predicted foggy skies today. It is advised to wear mask as you head out to start your day.

IMD Predictions

The IMD attributes the weather disturbances to easterly winds and a cyclonic circulation in the southeast Arabian Sea. According to the forecast by IMD, the temperature will reach a high of 34-35 degrees Celsius over the next few days, with a low of around 24-25 degrees Celsius, before decreasing once more.

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