Modirealty Vatvriksh
MahaRERA Property Intelligence · Mumbai Suburban
P51800010465 · SV Road · promoter Developers
| MahaRERA registration | P51800010465 |
| Registered on | 27 Aug 2017 |
| Promoter-declared completion | 31 Dec 2026 |
| Current status | Certificate Signed |
| Against today | 5 months to 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 ~76.3% of the estimated project cost incurred as of the last certificate (₹179.45 Cr spent against a ₹235.29 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.
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 217 homes filed with MahaRERA, 191 are sold/booked and 26 remain available (~88% sold) — nearly sold out — little inventory left, so you're buying into an established buyer base. Buyers have committed ₹425.51 Cr in agreement value so far. Of that, ₹286.55 Cr (~67%) is already collected, ₹138.96 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 191 registered agreements, the effective carpet rate is ₹16,254/sqft (typical range ₹11,318–₹28,460) — 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 4 | B-104 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-1902 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-1903 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-1904 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-2001 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2003 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2102 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-2103 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2201 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2203 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2303 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2401 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2402 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-2403 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2501 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2502 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-2503 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2601 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2602 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-2603 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2702 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-2703 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2704 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-2803 | 918 sqft (85.28 sqm) | ₹1.25 Cr |
| Floor 4 | B-2804 | 1,343 sqft (124.77 sqm) | ₹1.83 Cr |
| Floor 4 | B-501 | 918 sqft (85.28 sqm) | ₹1.25 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+41 and 217 homes are registered across the project.
| Building | Wings | Floors | Homes | Declared completion |
|---|---|---|---|---|
| PALAI TOWERS | 1 | G+41 | 217 | - |
Unit mix on the filing: 213 residential and 4 non-residential (shops/offices).
7 complaints are on the MahaRERA record for this project, with orders passed in 5. An adjudicated complaint is the clearest evidence of how this promoter behaves when pushed — read the orders in full.
| Complaint no. | Filed | Parties | Status |
|---|---|---|---|
| CC006000000195510 | 04/01/2021 | N D DEVELOPERS vs ND DEVELOPERS | order passed |
| CC006000000197801 | 30/07/2021 | Mushtaq A. Kasmani vs N.D. Developers | order passed |
| CC006000000197803 | 30/07/2021 | Vasim A Kasmani vs N.D. Developers | order passed |
| CC006000000197804 | 30/07/2021 | Jabin M. Kasamani vs N.D. Developers | order passed |
| CC006000000197806 | 30/07/2021 | Sain V. Kasmani vs N.D. Developers | order passed |
| CC006000000429006 | 21/02/2024 | M/s N D Developers vs Mr. Altaz Shabudin Ratnani | pending / no order on file |
| CC12501959 | 16/06/2025 | Manoj Kumar vs N D DEVELOPERS | pending / no order on file |
The promoter has had the MahaRERA completion deadline formally extended 5 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 |
|---|---|---|
| 31 Dec 2024 | 31 Dec 2023 | The Secretary, Maharashtra Real Estate Regulatory Authority 3rd Floor, A-Wing, Slum Rehabilitation Authority, Administrative Building, Anant Kanekar Marg, Bandra (E), Mumbai 40 |
| 31 Dec 2024 | 30 Jun 2022 | Dear Sir, With reference to the captioned subject, we would like to inform your goodself that our project ‘Palai Tower’ is registered on the MahaRERA webportal vide Registration |
| 31 Dec 2024 | 31 Dec 2024 | Dear Sir/Madam We are applying for extension of date of completion to 31/12/2024. There has been a delay due to obtaining permissions required for further construction of the bu |
| 30 Jun 2021 | 31 Dec 2025 | Dear Sir/Madam |
| 30 Jun 2021 | 31 Dec 2026 | Dear Sir/Madam, please refer annexure for reason for delay |
Located at SV Road, Piramal Nagar, Mumbai City, Mumbai City, 400062. Per the filed land record, the plot is bounded to the north by PIRAMAL NAGAR, to the south by PATKAR COLLGEE, to the east by GOREGAON RAILWAY STN and to the west by S V ROAD. Confirm these against the 7/12 extract and the sanctioned plan before you rely on them.
The nearest major job hub is ~5 km away — a manageable everyday commute to a major job hub.
| Landmark | Straight-line |
|---|---|
| Andheri MIDC / SEEPZ | 5 km |
| Powai / Hiranandani business park | 8 km |
| Chhatrapati Shivaji Int'l Airport | 9 km |
| Bandra Kurla Complex (BKC) | 12 km |
| Lower Parel / Worli business district | 19 km |
| Nariman Point / Fort | 27 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 PALAI TOWERS?
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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Paying from outside India? Pay $15 (Compliance) or $39 (Unit Guidance) via PayPal, or email hello@quietlist.in for a card invoice. Prefer to talk first, or have a portfolio to check? Same address. An information aid for your own due diligence, not legal or investment advice.
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N D Developers is the promoter on 5 MahaRERA-registered projects, of which 2 carry a regulator flag (insolvency, deregistration, suspension, completion lapse or QPR default). A pattern across a builder's portfolio matters more than any one project's brochure — look into these before you trust this registration:
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