Despite MahaRERA’s order, developers failed to compensate hundreds of home buyers in Mumbai and the suburbs for pending projects. Last year, the regulator stepped up efforts and issued 304 warrants for recovery of close to Rs 336 crore. Thane district has the second-highest defaulters, with 94 warrants of the 700 issued in 14 districts.
 
The Maharashtra Real Estate Regulatory Authority (MahaRERA) started working on complaints last year, after the COVID-19 pandemic restrictions were lifted. The officials reviewed all the complaints received since 2017 and prepared a list of developers who have failed to comply with the regulator’s order related to refund of money or compensation to home buyers for pending/stalled projects or delayed delivery.

Owing to a huge number of complaints from home buyers about developers not paying compensation, MahaRERA chairman Ajoy Mehta and other members appointed a retired additional collector in December to expedite the process of executing the pending warrants that are issued through the office of district collectors. Since December, of the 700 plus warrants that had been issued across 14 districts, 118 were executed and over Rs 101 crore was recovered. As of now, nearly 582 warrants are pending state-wide.