Urban Villa
MahaRERA Property Intelligence · Thane
P51700025102 · Wagle Industrial Estate · promoter Paper Flutings
| MahaRERA registration | P51700025102 |
| Registered on | 18 Mar 2020 |
| Promoter-declared completion | 31 Mar 2026 |
| Current status | Certificate Signed |
| Against today | about 4 months past the declared date |
MahaRERA's own defaulter/deregistration lists and the project's quarterly-progress-report filing — the regulator's view of whether this project is in good standing.
MahaRERA's cost filing puts construction at ~88.0% of the estimated project cost incurred as of the last certificate (₹44.00 Cr spent against a ₹50.00 Cr estimate). This financial % is the regulator's own proxy for how much is physically built — the closest public read on real progress, and one a brochure never shows. The declared completion date has already passed while the cost-incurred filing sits at ~88.0% — a wide gap between the promise and the money actually spent on site.
Cost-incurred % as last certified to MahaRERA; it can lag on-site reality between filings. Confirm the current stage and the latest Form 2 before you book.
Of 43 homes filed with MahaRERA, 30 are sold/booked (26 with registered agreements + 4 booked) and 13 remain available (~70% sold) — selling steadily. Buyers have committed ₹63.48 Cr in agreement value so far. Of that, ₹57.36 Cr (~90%) is already collected, ₹6.12 Cr receivable — a read on how far along these sales really are. This is the promoter's own reported inventory as at the last compliance filing; confirm current availability directly.
What buyers actually paid: across 30 registered agreements, the effective carpet rate is ₹12,112/sqft (typical range ₹9,657–₹13,999) — computed from the agreement values and carpet areas the promoter filed, not broker quotes. Compare your quote against this before negotiating.
The unsold units on the filing — if you're quoted a unit NOT on this list, ask why it shows as sold/booked on the RERA record:
| Floor | Unit | Carpet | Reckoner value |
|---|---|---|---|
| Floor 1 | OFFICE NO.101 | 1,587 sqft (147.44 sqm) | ₹2.78 Cr |
| Floor 1 | OFFICE NO.102 to 106 | 9,140 sqft (849.14 sqm) | ₹16.03 Cr |
| Floor 10 | OFFICE NO.1001 | 4,921 sqft (457.19 sqm) | ₹9.06 Cr |
| Floor 10 | OFFICE NO.1002 | 4,921 sqft (457.19 sqm) | ₹9.06 Cr |
| Floor 6 | OFFICE NO.604 | 1,289 sqft (119.77 sqm) | ₹2.37 Cr |
| Floor 7 | OFFICE NO.701 | 4,836 sqft (449.27 sqm) | ₹8.90 Cr |
| Floor 7 | OFFICE NO.702 | 4,395 sqft (408.35 sqm) | ₹8.09 Cr |
| Floor 8 | OFFICE NO.801 | 4,103 sqft (381.21 sqm) | ₹7.56 Cr |
| Floor 8 | OFFICE NO.802 | 4,103 sqft (381.21 sqm) | ₹7.56 Cr |
| Floor 9 | OFFICE NO.901 | 4,103 sqft (381.21 sqm) | ₹7.56 Cr |
| Floor 9 | OFFICE NO.902 | 4,103 sqft (381.21 sqm) | ₹7.56 Cr |
| Ground/Floor 0 | SHOP NO. G-2 | 1,053 sqft (97.83 sqm) | ₹2.08 Cr |
| Ground/Floor 0 | SHOP NO. G-3 to 6 | 5,253 sqft (488 sqm) | ₹10.40 Cr |
No units are declared mortgaged, reserved, investor-held or not-for-sale in this inventory filing — still confirm your specific unit's status in the agreement.
The buildings and wings registered under this project, with each tower's sanctioned height and declared completion date. Here the tallest tower rises to G+10 and 43 homes are registered across the project.
| Building | Wings | Floors | Homes | Declared completion |
|---|---|---|---|---|
| M Square IT Park | 1 | G+10 | 43 | - |
Unit mix on the filing: 43 non-residential (shops/offices).
No buyer complaints were on this project's MahaRERA record at the time of reading — a clean sheet worth re-checking near booking.
The promoter has had the MahaRERA completion deadline formally extended 2 times. Each extension is the regulator letting the finish line move — the clearest evidence of delivery slippage, straight from the record.
| From (declared) | To (revised) | Stated reason |
|---|---|---|
| 30 Mar 2024 | 31 Mar 2025 | We are attaching herewith a detailed note stating reasons for delay and necessary extension for the project. |
| 30 Mar 2024 | 31 Mar 2026 | DUE TO CHANGE IN APPROVALS AND OTHER REASON MORE PARTICULARLY MENTIONED IN ATTACHED COVERING LETTER. |
Located at Wagle Industrial Estate, Road No. 33, Thane, Thane, 400604. Per the filed land record, the plot is bounded to the north by LIC Office, to the south by Royal Ceramics Building, to the east by ESIC Road and to the west by Butterfly Themes. Confirm these against the 7/12 extract and the sanctioned plan before you rely on them.
The nearest major job hub is ~11 km away — a real but liveable commute to the nearest job hub — factor peak-hour traffic.
| Landmark | Straight-line |
|---|---|
| Powai / Hiranandani business park | 11 km |
| Andheri MIDC / SEEPZ | 12 km |
| Chhatrapati Shivaji Int'l Airport | 16 km |
| Bandra Kurla Complex (BKC) | 18 km |
| Lower Parel / Worli business district | 26 km |
| Nariman Point / Fort | 34 km |
Straight-line distances from the geocoded project locality (the RERA address is an area, not a door) — directional, not door-to-door drive times. Check the actual road route, the nearest metro station and daily-need shops/schools/hospitals on a site visit.
🔒 The verdict & buyer playbook · Compliance report
The paid report opens with the overall risk read on this MahaRERA filing, exactly what I'd do as a buyer in this project, who it suits, and the questions to put to the promoter before you commit.
🔒 Unit-by-unit guidance · Unit Guidance report
Which building/wing and unit to prefer and the sanctioned-plan read for this project — the ₹2,999 guidance layer.
🔒 Full financial records — escrow, funding & the document catalog · Compliance report
The RERA 70% designated-escrow account activity, the declared means-of-finance, the professionals of record, and every document filed with MahaRERA — the raw records the read above is built on.
Should you buy in M Square IT Park?
This page is the free MahaRERA filing summary. The full RERA Property Intelligence Report gives you the full regulatory standing, declared court litigation, buyer-complaint and adjudication history, quarterly-progress-report discipline, the builder's MahaRERA-wide track record, the building/tower breakdown, and the sanctioned layout plan. See a real one first:
Sample: Lodha Kandivali – Tower 2 → · browse all sample reports →
Compliance Report · ₹999
The regulator’s filing record, read · 1 working day
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Unit Guidance Report · ₹2,999
Everything, down to which unit · 1 working day
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Flags are from MahaRERA's own published problem lists — not a claim about the developer's intent. Explore every flagged project on our Mumbai, Thane & the MMR RERA red-flag register.
Last checked against the RERA register: 27 Jul 2026