MahaRERA recovers Rs 100 crore from 118 warrants issued in five years

Yet to recover Rs 413.79 crore from Mumbai, suburbs, Pune and Raigad districts

Written by Sweety Adimulam
Mumbai | February 3, 2023 03:49 IST

Warrants issued in property attachment of developers over failure to deliver projects on time, resulting in delay in handing over possession to buyers.

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The Maharashtra Real Estate Regulatory Authority (MahaRERA) has recovered over Rs 100 crore through warrants issued in the last five years. However, the recovery will continue as the amount has been recovered from 118 warrants against the 594 issued in Mumbai, Mumbai suburbs, Pune and Raigad districts in these years.

Of the Rs 413.79 crore to be recovered from these four districts, Rs 100.56 crore has been recovered against 118 warrants so far.

The warrants were issued with regards to property attachment of developers over failure to deliver projects on time, resulting in delay in handing over possession to buyers, officials in MahaRERA said.

According to MahaRERA, Rs 11.42 crore was recovered from Mumbai against three warrants. In all, 14 warrants worth Rs 44.92 crore were issued in the city. From the suburbs, Rs 55.57 crore was recovered against 80 warrants. In all, 343 warrants worth Rs 245.84 crore were issued from the suburbs.

In Pune, Rs 32.76 crore was recovered against 33 warrants while 163 warrants worth Rs 107.93 crore were issued. From Raigad, Rs 81 lakh was recovered against two warrants while 74 warrants of Rs 15.10 crore were issued in the district.

Advocate Bhimani Sulaiman, also a social activist fighting for consumer rights, alleged that MahaRERA is a toothless tiger as it only managed to recover 10 per cent of the total amount in the last five years. “Money against over 490 warrants are yet to be recovered… so many homebuyers yet to get justice,” he added.

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