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MahaRERA has recovered Rs 8.73 Crore from 5 developers in Mumbai city, Mumbai suburbs and Pune from 9 warrants of MahaRERA.

MahaRERA is constantly in touch with the concerned collector offices to collect the warrants issued by MahaRERA for compensation to the customers. Due to the pursuit of MahaRERA, the processes of auctions have been started by confiscating the properties of the concerned developers in many places.

In some other places developers are coming forward to pay these compensation amounts or settle the issue of compensation by compromising with the concerned consumers to avoid forfeiture of their property.

Rs 8.73 crore have been paid as compensation by 5 developers in Mumbai city, Mumbai suburbs and Pune for 9 warrants. Rs 8.57 crore for 20 warrants by 11 developers was paid earlier.

MahaRERA has so far issued 1015 warrants for recovery of Rs 623.30 crore. Out of these, MahaRERA has so far been able to recover an amount of Rs 131.32 crores against 180 warrants. MahaRERA is continuously trying to recover the remaining amount.

Among those who deposited money or compromised with customers were Samriddhi Developers in Mumbai city and Wondervalue Realty Pvt. Ltd. Rs 6.46 crore was paid by these developers of which Wondervalue developer has given a compensation of Rs 6.26 crore to a homebuyer.

In Mumbai suburbs too, Reliance Enterprises and Ruchi Priya Developers Pvt. Ltd. have paid compensation of Rs 1.84 crore of which Reliance Enterprises has paid Rs 1.78 crore as compensation to one home buyer

Darode Jog Homes Pvt Ltd in Pune has also paid a compensation of Rs 42.25 lakh to one of the homebuyers.

Also Read: 88 Realty Projects approach MahaRERA to cancel their Registration

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