Home / Browse projects / Thane, Maharashtra / M Square IT Park
M Square IT Park
RG-MH-28232 · RERA P51700025102 · Last updated on MahaRERA portal: 29 Jun 2026
Source: official MahaRERA filing
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Red flags
- Possession 1 months past the filed date
- Completion date moved by 30 months
- 3 extensions taken
Clear
- No litigation declared
- No complaints on record
- Separate project account declared
- Allotment letter follows the model form
3 conditions are on this record. What each one means for someone buying here, and what the promoter's own filed documents say behind it, is what the buyer report adds.
See what the report covers Free either way: or have every new Thane registration emailed to you, free during the pilot beta.Saved. When you are ready to decide, the Rs 499 buyer report reads the fine print for you.
M Square IT Park is a Commercial project by Paper Flutings in Thane, Maharashtra, registered with MahaRERA as P51700025102 on 18 Mar 2020. Possession was promised by 30 Sep 2026 and is now 1 months past that date. The completion date has moved by 30 months from the original filing. 30 of the 43 units on this registration are recorded sold or booked, and 4 of 11 construction stages are filed complete.
At a glance
Project
- NameM Square IT Park
- TypeCommercial
- Location
- Road No. 33
- Wagle Industrial Estate
- Thane (M Corp.)
- Thane
- 400604
- Pincode400604
- MapView location on Google Maps (as filed on RERA)
- RERA no.P51700025102
- ReraGenie IDRG-MH-28232
Builder
- NamePaper Flutings
- Entity typePartnership
- GSTIN27AAAFP2676D1ZD
- PartnersTanay Mehta, Smita Mehta
Key dates
Key facts
Registration and timeline
- StatusRegistered
- Registered on18 Mar 2020
- Promised completion30 Sep 2026
- Revised completionRevised to 30 Sep 2026 (originally 30 Mar 2024)
- Buildings1 building record
- Documents filed148 files
Current status
Figures as on 29 Jun 2026, this project's latest MahaRERA filing.
Buildings and wings, as sanctioned
| Building | Wing | Floors sanctioned | Habitable floors | Residential units | Other units | Total |
|---|---|---|---|---|---|---|
| M Square IT Park | NA | 11 | 11 | 0 | 43 | 43 |
The full filing
Everything below is from the project's own MahaRERA filing, free to read. The Rs 499 buyer report reads the filed documents themselves and puts the findings in plain language.
Construction progress by building1
As on 29 Jun 2026, the date of the latest filing. The RERA activity checklist for each building, from the promoter's latest quarterly progress filing. These are the promoter's own figures, not an independent inspection.
4 of 11 construction stages are filed complete. The stage furthest along is Staircases, at 95%.
M Square IT Park: 70% average across the applicable activities
| Activity | Progress |
|---|---|
| Excavation | 100% |
| Basement (if any) | 0% |
| Podiums (if any) | 0% |
| Plinth | 100% |
| Stilt Floor | 0% |
| Slabs of Super Structure | 100% |
| Internal walls, Intemal Plaster, Floorings, Floors and windows within Flats/Premises | 90% |
| Sanitary Fittings within the flats / premises | 100% |
| Staircases, Lifts Wells and Lobbies at each Floor level Overhead and Underground Water Tanks | 95% |
| External plumbing and external plaster, elevation, completion of terraces with waterproofing of the Building / wing. | 95% |
| Installation of Lifts, water pumps, Fire Fighting Fittings and Equipment as per CFO NOC, Electrical fittings, mechanical equipment, compliance to conditions ofenvironment/CRZ NOC, Finishing to entrance lobby/s, plinth protection. paving of areas appurtenant to Building/Wing, Compound Wall and all other requirements as may be required to complete project as per specifications in agreement of Sale. | 95% |
Progress on shared amenities15
As on 29 Jun 2026, the date of the latest filing. Lifts, roads, water and the other shared works, from the same quarterly filing, and reported by the promoter rather than inspected.
| Common facility | Proposed | Progress |
|---|---|---|
| Internal Roads & Footpaths | Yes | 95% |
| Water Supply | Yes | 100% |
| Sewerage (Chamber, Lines, Septic Tank , STP) | Yes | 100% |
| Storm Water Drains | Yes | 100% |
| Landscaping & Tree Planting | Yes | 100% |
| Street Lighting | Yes | 100% |
| Community Buildings | No | Not applicable |
| Treatment And Disposal Of Sewage And Sullage Water | No | Not applicable |
| Solid Waste Management And Disposal | No | Not applicable |
| Water conservation /Rain water harvesting | Yes | 90% |
| Energy managemcnt | No | Not applicable |
| Fire protection and fire safety requirements | Yes | 90% |
| Electrical meter room, sub-station, receiving station | Yes | 60% |
| Aggregate area of recreational Open Space | No | Not applicable |
| Open Parking | Yes | 0% |
Parking filed104
Slots recorded per building wing in the filing. MahaRERA does not publish a two wheeler or four wheeler split, visitor parking, or the sanctioned allotment, so this is provision as filed and not a comparison against the approved plan.
Land and ownership
MahaRERA has published no encumbrance declaration for this project. That is silence on the question, and not a record of clear land.
Approvals and building plan
Project account and cost
70 percent of buyer money must sit in the project account. Account numbers are not published by MahaRERA, so check that your agreement for sale names a designated account for this project and pay into that account only.
| Building | Wing | Estimated | Incurred |
|---|---|---|---|
| M Square IT Park | NA | Rs 48.00 cr | Rs 43.25 cr |
| - | NA | Rs 2.00 cr | Rs 75.10 lakh |
Certifying professionals and partners6
Form 1, 2 and 3 certificates from these professionals release the promoter's withdrawals from the 70 percent account.
| Role | Name |
|---|---|
| Architect | Creations |
| Engineer | Sunil Dnyandev Patil |
| Chartered Accountant | GBCA & Associates |
| Chartered Accountant | D A Oak & Co |
| Chartered Accountant | J VIPUL & ASSOCIATES |
| Chartered Accountant | J VIPUL AND ASSOCIATES |
| Partner | Role in project |
|---|---|
| Paper Flutings | - |
Extensions applied for3
A revised date filed with the regulator does not change the possession date in your agreement for sale.
Reason as filed by the promoterWe are attaching herewith a detailed note stating reasons for delay and necessary extension for the project.
Reason as filed by the promoterDUE TO CHANGE IN APPROVALS AND OTHER REASON MORE PARTICULARLY MENTIONED IN ATTACHED COVERING LETTER.
Reason as filed by the promoterThe overall construction schedule was extended due to delays in receiving authority approvals for the additional floors. With only minor works remaining and the Occupancy Certificate (OC) pending, we kindly request a short extension of the project validity until September 30, 2026. Attaching herewith requisite customer consents for your perusal.
Complaints filed with MahaRERA
No complaints on record against this registration.
The permission chain
The permissions a project needs, in the order they happen, matched to MahaRERA's own document slots. A slot on the file means the promoter uploaded a document there; it is not proof the permission was granted, and the filing carries no issue dates. An empty slot is not proof an approval is missing.
- Legal title reportOn the file
A lawyer's report on who owns the land and what is registered against it.
uploaded 12 Mar 2020 - Layout approvalOn the file
The planning authority's approval of how the plots and buildings sit on the land.
uploaded 12 Mar 2020 - Building plan approvalOn the file
Sanction of the building plans themselves, filed as an IOD in Mumbai and as a plan approval elsewhere.
uploaded 21 Nov 2024 - Commencement CertificateOn the file
Permission to begin construction. On a plotted development the same slot carries the NA order instead.
uploaded 22 Feb 2022Confirm the Commencement Certificate covers the specific floor you are buying. - Occupancy CertificateOn the file
The legal go-ahead to move in. It comes at the end, so its absence on a project still under construction is expected.
uploaded 2 Jun 2023
Documents filed148
As listed on the registration, named by the MahaRERA slot each file was filed under, with the promoter's own file name beneath; the newest 80 of 148 are shown. The files themselves are available at source: open this registration on the MahaRERA portal. We publish what the filing says and never host the promoter's documents in place of it.
| Document | Uploaded |
|---|---|
| Form 2A (FY 2025-2026)File: QA 2526.pdf | 29 Jun 2026 |
| Form 2A (FY 2019-2020)File: 2A 201920.pdf | 29 Jun 2026 |
| Form 2A (FY 2020-2021)File: 2A 2021.pdf | 29 Jun 2026 |
| Form 2A (FY 2021-2022)File: 2A for FY 21-22.pdf | 29 Jun 2026 |
| Form 2A (FY 2022-2023)File: 2A 2223.pdf | 29 Jun 2026 |
| Form 2A (FY 2023-2024)File: FORM 2A 2425.pdf | 29 Jun 2026 |
| Form 2A (FY 2024-2025)File: FORM 2A 2425.pdf | 29 Jun 2026 |
| Withdrawal Update Form 1File: Form 1.pdf | 19 Jun 2026 |
| Withdrawal Update Form 1File: Form 1 Architect Certificate.pdf | 19 Jun 2026 |
| Withdrawal Update Form 1File: Form 1.pdf | 19 Jun 2026 |
| Withdrawal Update Form 1File: Form 1.pdf | 19 Jun 2026 |
| Withdrawal Update Form 2File: Form 2 Eng Certificate.pdf | 19 Jun 2026 |
| Withdrawal Update Form 2File: Form 2 Engineer Certificate.pdf | 19 Jun 2026 |
| Withdrawal Update Form 2File: Form 2.pdf | 19 Jun 2026 |
| Withdrawal Update Form 2File: Form 2.pdf | 19 Jun 2026 |
| Withdrawal Update Form 3File: Form 3 Jun 25 SIGNED.pdf | 19 Jun 2026 |
| Withdrawal Update Form 3File: FORM 3 JUL-SEP 25.pdf | 19 Jun 2026 |
| Withdrawal Update Form 3File: FORM 3 OCT TO DEC SIGNED.pdf | 19 Jun 2026 |
| Withdrawal Update Form 3File: Form 3 CA Certificate_PF_Mar 26 Compressed.pdf | 19 Jun 2026 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: RERA FORM 3 MARCH 25 signed.pdf | 19 May 2025 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: FORM 1.pdf | 16 May 2025 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: FORM 2.pdf | 16 May 2025 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: Form 1.pdf | 9 Feb 2025 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: FORM 3.pdf | 9 Feb 2025 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2.pdf | 9 Feb 2025 |
| Disclosure of sold/ booked inventoryFile: Sold Unsold Disc.pdf | 9 Feb 2025 |
| CERSAI detailsFile: CERSAI_Search_Report_200339180517_For_Asset_Based_Search_09_02_2025_11_44_52_415.pdf | 9 Feb 2025 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2023-24)File: FORM 5 2023 24.pdf | 31 Dec 2024 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: Form 1.pdf | 12 Dec 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: FORM 3 FINAL.pdf | 12 Dec 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2.pdf | 12 Dec 2024 |
| Disclosure of sold/ booked inventoryFile: Sold Unsold Discl.pdf | 12 Dec 2024 |
| Building plan approvalFile: FULL APPROVED PLANS_Compress.pdf | 21 Nov 2024 |
| Building plan approvalFile: FULL APPROVED PLANS_Compress.pdf | 21 Nov 2024 |
| Building Plan Approval / NA Order for plotted developmentFile: FULL APPROVED PLANS_Compress.pdf | 21 Nov 2024 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: ARCHITECT CERTIFICATE 30062024.pdf | 21 Nov 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: ENGINEERS CERTIFICATE 30062024.pdf | 21 Nov 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Signed Form 3.pdf | 21 Nov 2024 |
| Disclosure of sold/ booked inventoryFile: Sold Unsold as at 30062024.pdf | 21 Nov 2024 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: ARCHITECT CERTIFICATE 30062024.pdf | 21 Nov 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Signed Form 3.pdf | 21 Nov 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: ENGINEERS CERTIFICATE 30062024.pdf | 21 Nov 2024 |
| Building Plan Approval / NA Order for plotted developmentFile: FULL APPROVED PLANS_Compress.pdf | 21 Nov 2024 |
| Disclosure of sold/ booked inventoryFile: Sold Unsold as at 30062024.pdf | 21 Nov 2024 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: Form 1 Ar Certificate.pdf | 7 May 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 Eng Certificate.pdf | 7 May 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: PF Form 3 Mar 24.pdf | 7 May 2024 |
| Engineers Certificate on Quality Assurance (Form 2A FY 2019-20)File: 2A 1920.pdf | 27 Mar 2024 |
| Engineers Certificate on Quality Assurance (Form 2A FY 2020-21)File: 2A 2021.pdf | 27 Mar 2024 |
| Engineers Certificate on Quality Assurance (Form 2A FY 2022-23)File: 2A 2223.pdf | 27 Mar 2024 |
| Declaration about Commencement CertificateFile: CC DECLARATION.pdf | 26 Mar 2024 |
| Engineers Certificate on Quality Assurance (Form 2A FY 2019-20)File: 2A 201920.pdf | 26 Mar 2024 |
| Engineers Certificate on Quality Assurance (Form 2A FY 2020-21)File: 2A 2021.pdf | 26 Mar 2024 |
| Engineers Certificate on Quality Assurance (Form 2A FY 2022-23)File: 2A 2223.pdf | 26 Mar 2024 |
| CERSAI detailsFile: CERSAI_Search_Report_200301829466_For_Asset_Based_Search_26_03_2024_16_17_36_216.pdf | 26 Mar 2024 |
| Declaration in FORM BFile: Revised Form B.pdf | 21 Mar 2024 |
| Disclosure of sold/ booked inventoryFile: sold unsold disclosure 3 12 2320240216_11500398.pdf | 16 Feb 2024 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: Form 1 December 2023.pdf | 15 Feb 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 December 2023.pdf | 15 Feb 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 Dec 2023 _ PF-1-4 DULY SIGNED BY NSM (1).pdf | 15 Feb 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 Dec 2023 Table C.pdf | 15 Feb 2024 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2022-23)File: RERA FORM 5 FY 2223.pdf | 12 Dec 2023 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: ARCH CERTI 30092023.pdf | 21 Oct 2023 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: ENGINEERS CERT 30092023.pdf | 21 Oct 2023 |
| Disclosure of sold/ booked inventoryFile: SOLD UNSOLD INVENTORY 300923.pdf | 21 Oct 2023 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: FORM 3 SIGNED PDF.pdf | 21 Oct 2023 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: ARCH CERT 30062023.pdf | 9 Aug 2023 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: ENG CERTIFICATE 30062023.pdf | 9 Aug 2023 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 Jun 23.pdf | 9 Aug 2023 |
| Occupancy Certificate/ Completion Certificate/ Architect's certificate of completion for plotted developmentFile: A 241 and A 242 Part OC.pdf | 2 Jun 2023 |
| Other - TechnicalFile: Paper Flutings A-241 A-242- Part Final Digital.pdf | 2 Jun 2023 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: ARCH CERT 31032023.pdf | 29 May 2023 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: ENG CERT 31032023.pdf | 29 May 2023 |
| Disclosure of sold/ booked inventoryFile: sold unsold details.pdf | 29 May 2023 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: FORM 3_ MAR 23 SIGNED.pdf | 29 May 2023 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: Form 1 31122022.pdf | 6 Mar 2023 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 31122022.pdf | 6 Mar 2023 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: FORM 3 SIGNED.pdf | 6 Mar 2023 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2017-18)File: NOTE Annual Audit Report of Statutory CA.pdf | 11 Feb 2023 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2018-19)File: NOTE Annual Audit Report of Statutory CA.pdf | 11 Feb 2023 |
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Buyer report
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Project watch
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Builder: Paper Flutings
Paper Flutings has 1 registration on MahaRERA, including M Square IT Park. Its filings disclose no earlier MahaRERA projects. Read the full track record. See more projects on the Thane district page.
Frequently asked questions
What are my rights if M Square IT Park is delayed beyond 30 Sep 2026?
Under section 18 of the RERA Act you may stay in the project and claim interest for every month of delay, or exit and claim a full refund with interest. In Maharashtra the rate is SBI's highest MCLR plus 2 percent, currently 10.90% per annum (June 2026). The free delay interest calculator on ReraGenie puts a rupee figure on any delay. Claims are filed as MahaRERA complaints with a Rs 5,000 fee.
How do I verify and contact the developer of M Square IT Park?
The registered promoter entity is Paper Flutings, a partnership as per the filing. Its GSTIN 27AAAFP2676D1ZD can be cross-checked on the MCA and GST portals. Your agreement for sale must name this exact entity, not a group brand name. The promoter's registered address and contact details are on the project's MahaRERA listing (scan the QR code on any advertisement) and in its filed documents. The Rs 499 buyer report includes all of them as a single ZIP, foldered by type.
Is my payment protected in M Square IT Park?
Partly, by law. 70 percent of every buyer payment must go into the project's designated bank account, withdrawable only against architect, engineer and CA certificates as construction progresses; since July 2024 MahaRERA requires a three-account structure for collections. Separately, a promoter cannot take more than 10 percent of the price before signing a registered agreement for sale (section 13). Neither rule guarantees completion; they limit how far your money can travel from the project.
How current is the construction progress shown for M Square IT Park?
Promoters must file a quarterly progress report within 20 days of each quarter end, certified by the architect (Form 1), engineer (Form 2) and chartered accountant (Form 3). The figures above come from the latest filing, so they can trail the site by up to a quarter. A promoter who stops filing QPRs altogether invites penalties under section 61, and a stale filing date is itself a warning sign worth checking on the portal.
Who certifies construction progress at M Square IT Park?
The professionals named in the filing: Architect: Creations; Engineer: Sunil Dnyandev Patil; Chartered Accountant: GBCA & Associates; Chartered Accountant: D A Oak & Co; Chartered Accountant: J VIPUL & ASSOCIATES; Chartered Accountant: J VIPUL AND ASSOCIATES. Their Form 1 (architect), Form 2 (engineer) and Form 3 (chartered accountant) certificates are what unlock the promoter's withdrawals from the 70 percent account, so their names on record are part of the project's accountability chain.
What should I check before booking in M Square IT Park?
Four things this page cannot decide for you: that the carpet area in your agreement matches the filed carpet area (the model agreement allows only a 3 percent variation, with a refund right below that); that the agreement follows MahaRERA's model clauses with deviations highlighted; the promoter's record on their other projects, not just this one; why the completion date was revised and what the new timeline depends on. The Rs 499 buyer report works through all of them from the filings.
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