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Mumbai: The Maharera Promoters have been allowed to de-register their projects if they fail to start or complete construction of the project or a part or phase of the project due to various reasons such as lack of funds, project not being economically viable, litigation, etc. unable to complete. disputes, etc.
However, as per the pre-requisites prescribed by MahaRERA for registration of a project, the project requires zero allottees or no bookings.
In instances where a part of a registered real estate project is sought to be de-registered, then zero allottees are required in that part of the project.
In case of projects where bookings have already been made, de-registration will be permitted, provided the rights of such allottees are fixed by the promoter.
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