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MahaRERA frames SOP for timely compensation recovery from defaulting developers

The SOP mandates that developers who fail to pay compensation despite multiple opportunities will have their cases referred to the principal civil court of the area. Such defaulting developers may face imprisonment for up to three months under the provisions of the Code of Civil Procedure

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Under the new SOP, homebuyers are expected to receive compensation within 60 days of the order. Representational pic

Under the new SOP, homebuyers are expected to receive compensation within 60 days of the order. Representational pic

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced a standard operating procedure (SOP) to ensure timely recovery of compensation for homebuyers, following directives from the Bombay High Court (HC).

The SOP mandates that developers who fail to pay compensation despite multiple opportunities will have their cases referred to the principal civil court of the area.

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