Real Estate: Builders Updating Housing Project Details On MahaRERA Website Increases From 0.02% In January 2023 To 62% Now

Pune, 18th February 2025: There is a significant increase in the developers updating details about their housing projects by regularly filing Quarterly Progress Report (QPR) with the Maharashtra Real Estate Regulatory Authority (MahaRERA). Currently, information on 62% of housing projects is updated as compared to 0.02% back in January 2023, when MahaRERA had started to review these projects.

The availability of updated information on MahaRERA’s website has helped in significantly lowering and controlling the number of complaints from homebuyers.

The rise in the submission of QPR is the herculean efforts, constant follow-ups and strict action by MahaRERA against developers not responding to all communication. MahaRERA initiated strict action such as freezing the bank account linked with the project and suspending MahaRERA registration number. These steps helped in ensuring builders increasingly comply with MahaRERA’s regulations.

Currently, there are 18,012 active projects in Maharashtra. Of these, 11,080 projects are updating the QPR. This translates in 62% of the housing projects ensuring project information is kept updated on MahaRERA’s website. In January 2023, when the Compliance Cell was established, only 2 of the 748 projects or 0.02% were complying by keeping the QPR updated.

The duties and responsibilities of developers are mentioned in Section 3, 4 and 11 of the Real Estate (Regulation and Development) Act, 2016. Apart from that Order 33/2022 dated July 5, 2022 also has defined roles and responsibilities of the builders. As per these provisions, the developers are obligated to ensure QPR is updated on MahaRERA’s portal every January 20, April 20, July 20 and October 20. The report must also include Forms 1 and 2 detailing construction progress made and Form 3 providing a financial breakdown of how many flats, parking slots have been booked, payment received, expenditure incurred, any amendment in project’s plan, etc. To ensure transparency, these details must be kept up-to-date.

To ensure strict implementation of these provisions in the interest of homebuyers, MahaRERA started “Financial Quarter Based Project Progress Reporting System” starting with the first QRP submitted in January 2023. For this, a separate Compliance Cell was established. Through this cell, MahaRERA initiated various measures such as holding seminars, discussions, and taking legal actions against non-compliant projects by levying penalties, suspending their MahaRERA registration number, suspending sale of flats, and freezing the bank account. All these efforts put together resulted in 62% of the housing projects starting to update the information on a quarterly basis.

MahaRERA has always maintained that any negligence and delay in updating quarterly reports will not be tolerated. Given the increase in updated information available on MahaRERA’s website, the strict approach has already started to show the positive outcomes.