The highest amount that a homebuyer received is Rs 31.57 lakh and the lowest amount received by a homebuyer is Rs 3.48 lakh. 30 out of 34 complainants also got paid the costs of the complaint. This also is first instance in state of getting compensation from auction.
On April 20, the properties of Bhupesh Babu of NK Garden were successfully auctioned in Morbi Gram Panchayat of Panvel area. The proceeds from this auction were recently distributed among the 34 complainants in the case.Rs 31.57 lakh is the highest compensation amount and Rs 3.48 lakh is the lowest amount. Apart from this, 30 out of 34 complainants have been awarded a total of Rs 6 lakh cost towards complaint.
While the base price was Rs 3.72 crore, the auction fetched a bid of Rs 4.82 crore. As a result of which the principal amount of compensation was paid to 34 complainants in this case. This is the first instance of recovery of money from the auction and compensation to the complainants.
There is a possibility that property seizure and alternative auctions will be announced in some more places in the state in the coming time.
MahaRERA has issued warrants worth Rs 22.2 crore in 99 cases for delay and similar matters in 38 projects in Raigad district. Rs 6.50 crore was expected to be recovered from 33 warrants from Bhupeshbabu, the developer of NK Garden in Panvel Tehsil Office area. For this, the Panvel Tehsil Office had seized the properties of survey numbers 93/2/9, 93/3, 93/5, 93/6, 93/9, 93/11 at Morbe and held this auction.
As per the legal provision regarding distribution of the amount recovered in this auction, this amount was distributed through the local revenue system to the homebuyers in this project as per the compensation sanctioned by MahaRERA.
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