Whenever MahaRERA the real estate regulatory authority of the state implementing RERA, passes and order against a developer asking them to pay homebuyers and the builder defaults to execute the order, the authority issues a warrant.
These warrants against errant developers are sent to the collector offices of the district in the state and the action is initiated accordingly.
The follow-up and monitoring initiated by MahaRERA has helped the affected home buyers in 118 cases in Mumbai city, Mumbai suburbs, Pune and Raigad districts to get compensation of around ₹100.56 crore so far.
As part of strengthening the control system, Maharera started from December to review the warrants announced from time to time. For this, reminders and request letters were sent to the 13 District Collectors of Mumbai City, Mumbai Suburb, Thane, Pune Raigad, Palghar Aurangabad, Nagpur, Nashik, Chandrapur, Sindhudurg, Satara and Ratnagiri.
Out of this, ₹413.79 crore rupees were expected to be recovered in 594 warrant cases in Mumbai city, Mumbai suburbs, Pune and Raigad collectorate. ₹100.56 crores has been recovered from 118 of these warrants in these 4 districts, bringing great relief to many affected home buyers in these areas.*
₹11.42 crore was recovered from 3 warrants instead of ₹44.92 crore from 14 warrants in Mumbai city. This amount is much higher in Mumbai suburbs ₹255.84 crore are to be received from 343 warrants ₹55.57 crore was recovered in 80 of these cases.
163 warrants worth ₹107.93 crore were issued in Pune district ₹32.76 crore have been recovered under 33 warrants. 74 warrants were issued for the recovery of ₹15.10 crore in Raigad district ₹81 lakhs have been recovered from 2 of these warrants.
Complaints of home buyers regarding non-handover of possession on time by concerned developers (builders), partial abandonment of projects, non-maintenance of prescribed quality, etc. come to MahaRERA. The respective developers are ordered to pay interest/damage compensation/refund etc. within the prescribed time frame after hearing these various forms of complaints of the home buyers properly.
The Collector’s office plays an important role in recovering the amount if the developer fails to pay the amount within the given period. Under Section 40(1) of the Immovable Property (Regulation and Development) Act, 2016, the Collector Office has the authority to recover the said recovery as arrears of land revenue as per the provisions of the Maharashtra Land Revenue Act. Therefore such warrants are sent from MahaRERA to the concerned Collectors.
Also Read: MahaRERA sends show cause notices to 19,539 Realty Projects
