The Maharashtra Real Estate Regulatory Authority, better known as MahaRERA, has announced a major surge in approvals, setting a new record for the number of housing projects given official permission during the recent festive season. This move, which saw 405 new housing projects approved across the state just before Dussehra, signals strong momentum in Maharashtra’s property market and offers a significant boost to both builders and hopeful homebuyers.
Record-setting approvals
This wave of permissions marks the first time MahaRERA has cleared such a high volume of projects during the holiday period. This rapid action was deliberate, with officials working extended hours throughout the festive week to make sure all proposals that met the necessary legal and financial standards were processed quickly.
The goal was simple, to help property developers launch their new projects in time to capitalize on the traditional increase in property sales seen during the holidays. In fact, over 200 project certificates were handed out on the eve of the festival alone.
The 405 new projects were part of a much larger effort during the month, which saw a total of 809 applications processed by the state authority. Beyond the new registrations, this figure also included:
- 209 requests from developers asking for more time to complete ongoing projects.
- 195 applications for changes or updates to existing project details.
Where is the growth happening?
The bulk of this new housing development is concentrated in the state’s largest economic hubs. The Mumbai Metropolitan Region (MMR), which includes the greater Mumbai area, led the way with nearly half of the new approvals, accounting for 197 projects. Following closely behind was the city of Pune, which saw 122 projects given the green light.
Within the MMR, the approvals were spread across the area, including the core city and its suburbs, Thane, Raigad and Palghar. While these two regions dominated the numbers, the approvals were not limited to them. Smaller contributions were also recorded from other districts like Satara, Kolhapur, Sangli, and Solapur, showing that the growth in new housing is reaching a wider area across Maharashtra.
What does this mean for homebuyers?
The authority’s focus is on processing requests quickly while maintaining high standards of quality and ensuring rules are followed. Over the six months leading up to this festive spike, from April to September, MahaRERA had already approved a total of 4,940 project proposals.
Officials believe that speeding up these approvals during a holiday period does two important things, it helps project launches happen smoothly and it acts as a signal of confidence to the public. For homebuyers, this means more choices in the market and an indication that the state’s real estate authority is working to make the process more transparent and efficient for everyone involved. Ultimately, this significant number of approved projects paves the way for a more active and reliable property market for citizens across Maharashtra.
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Disclaimer: This article is a factual summary based on public announcements by MahaRERA regarding project approvals. It is for informational purposes only and does not constitute official legal, financial, or investment advice.
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