MahaRERA recovers Rs 200.23 crore from defaulted developers

The Maharashtra Real Estate Regulatory Authority MahaRERA has so far managed to recover a sum of Rs 20023 crore as compensation for the losses incurred by homebuyers claims MahaRERA officialsThis includes Rs 4647 crore from Mumbai city Rs 7633 crore from Mumbai suburban Rs 3910 crore from Pune Rs 1165 crore from Thane Rs 965 crore from Nagpur Rs 749 crore from Raigad Rs 449 crore from Palghar Rs 384 crore from Sambhajinagar Rs 112 crore from Nashik and Rs 9 lakh from ChandrapurTo make the recovery more effective MahaRERA has decided to appoint retired Tahsildars in the offices of the District Collectorates in Mumbai suburban and Pune They will be appointed with the help of the respective district authorities where the cases and amount of recovery are high In Mumbai suburban about Rs 22812 crore rupees are still to be collected from 355 complaints from 73 projects and in the Pune region the amount stands at Rs 15072 crore from 201 complaints across 89 projects Based on the response to this recovery MahaERA will initiate measures to appoint the officials in other district collectorates as well explained the MahaRERA insidersIn January 2023 MahaRERA appointed a retired Additional District Collector to recover compensation on behalf of homebuyers The appointed official maintains regular engagement and communication with all the relevant District Collectors SubDivisional Officers Tahsildars and Talathis MahaRERA has given the highest priority to this recovery and its progress is reviewed in every head of department meeting As per requirement MahaRERA regularly informs the concerned District Collectors SubDivisional Officers and Tahsildars for hearings and makes continuous efforts to ensure the collection of compensation in all the districts the official addedSo far MahaRERA has issued 1163 warrants to recover Rs 70562 crore from 442 projects for compensation Of these Rs 20023 crore has been recovered from 283 warrants involving 139 real estate projectsComplaints of the homebuyers are heard through hearings and based on the case developers are ordered to pay interest compensation for losses or refunds within the prescribed time limit If the developer fails to pay the amount within the given time the role of the District Collectors office becomes crucial in recovering the amount This is done under the Real Estate Regulation And Development Act 2016 s Section 401 which authorises the District Collectors to recover the dues as arrears of land revenue Even Maharashtra Land Revenue Act 1966 has provisions towards the same to authorise the District Collectors to recover he saidMahaRERA Chairman speaksMahaRERA on various complaints issues orders regularly to compensate aggrieved homebuyers MahaRERAs role is to ensure that the compensation ordered is received by the aggrieved homebuyers for them to get adequate legal and financial relief To facilitate this MahaRERA has appointed a retired senior officer from the revenue department Through him such cases are consistently followed up with all concerned District Collectors Deputy Collectors and Tahsildars Therefore this process of recovery has gained momentum said Manoj Saunik Chairman MahaRERATo further enhance the effectiveness of this process MahaRERA has decided to appoint retired Tahsildars on a pilot basis in the offices of the District Collectorates in Mumbai suburban and Pune where there are more recovery cases as well as high arrears Depending on the need similar appointments will be considered in other districts as well he saidDistrict Wise Warrants and RecoveryMumbai City Rs 8579 crores due from 35 warrants in 19 projectsOf these Rs 4647 crore was recovered involving 22 warrants in 13 projectsMumbai Suburban Rs 30445 crore due from 440 warrants in 115 projectsOf these Rs 7633 crore was recovered for 85 warrants involving 42 projectsPune Rs 18982 crore due from 258 warrants in 131 projectsOf these Rs 3910 crore was recovered for 57 warrants related to 36 projectsThane Rs 6258 crore due from 191 warrants in 81 projectsOf these Rs 1165 crore recovered from 27 warrants in 15 projectsAlibagRaigad Rs 2379 crore due from 116 warrants in 45 projectsOf these Rs 749 crore recovered from 57 warrants in 18 projectsPalghar Rs 1986 crore due from 79 warrants in 32 projectsOf these Rs 449 crore was recovered from 8 warrants in 6 projectsNagpur Rs 1062 crore due from 18 warrants in 6 projectsOf these Rs 965 crore recovered from 13 warrants in 2 projectsSambajinagar Rs 404 crore due from 13 warrants in 2 projectsOf these Rs 384 crore was recovered from 9 warrants in 2 projectsNashik Rs 385 crore due from 6 warrants in 5 projectsRs112 crore recovered from 4 warrants in 4 projectsChandrapur Rs 9 lakh payable from 1 warrant in 1 projectEntirely recoveredSindhudurg Rs 54 lakh in 2 projectsYet to be recoveredSatara Rs 12 lakh from 1 projectYet to be recoveredRatnagiri Rs 6 lakh from 1 projectYet to be recoveredSolapur Rs 1 lakh from 1 projectYet to be recovered