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Promoters can de-register their projects: MahaRERA

However, according to the pre-requisites set by MahaRERA for de-registration of a project, the project needs to have zero allottees or no bookings.

The MahaRERA has allowed promoters to de-register their projects, if they are unable to commence or complete construction of a project or complete a portion or a phase of a project, due to various reasons such as lack of funds, project not economically viable, litigation, disputes, etc.

However, according to the pre-requisites set by MahaRERA for de-registration of a project, the project needs to have zero allottees or no bookings.

In instances, where a part of a registered real estate project is sought to be de-registered, then that portion of the project needs to have zero allottees.

In case of projects, where bookings have already been carried out, de-registration will be allowed, provided the rights of such allottees are settled by the promoter.

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