MahaRERA clears 1,060 housing projects ahead of Gudi Padwa Nagpur: Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved 1,060 housing projects ahead of the Gudi Padwa festival, marking a significant boost to the state’s real estate sector. The approvals, which include fresh registrations, extensions, and corrections to existing projects, reflect heightened activity as developers capitalize on the auspicious timing of the festival to attract homebuyers. The regulator processed a large volume of applications in the lead-up to the event, with 211 clearances granted in a single day. Of the total approvals, 486 projects received fresh registration numbers, 426 were granted extensions based on revised completion timelines, and 148 older projects were allowed modifications to their proposals. Officials highlighted that the approvals were expedited through round-the-clock efforts, with 124 projects receiving registration numbers, 53 granted extensions, and 34 approved with corrections the day before Gudi Padwa. The media advisor of MahaRERA, Ram Dontonde, noted that Padwa, one of the three-and-a-half auspicious mahurats in the Hindu calendar, traditionally sees a surge in real estate activity. Developers often align project launches with this period to align with favorable sentiment among buyers. The regulator emphasized that all approvals were granted after rigorous scrutiny to ensure compliance with legal, technical, and financial norms. Regionally, the Mumbai Metropolitan Region accounted for the largest share of approvals, with 607 projects, followed by Pune with 321. Khandesh saw 63 approvals, Vidarbha 50, Marathwada 14, and Dadra and Nagar Haveli 5.#mumbai_metropolitan_region #pune #gudi_padwa #maha_rera #ram_dontonde
