A 2,600-sq m plot of Nirmal Developers, which was to be auctioned to refund homebuyers under Maharashtra Real Estate Regulatory Authority (MahaRERA) rules, has taken a new turn. On Monday, Mumbai suburbs Collector Milind Borikar asked the developer to attach a fresh list of properties that are not mortgaged to any financial institutions.
Earlier on January 21, the Bombay High Court had stayed the auction of the plot for repaying 120 homebuyers who had bought flats in Nirmal Olympia project at Mulund. The stay came after a petition filed by SREI Equipment Finance Ltd, which claimed the plot was mortgaged to the company. The auction was scheduled on January 22.
For refunding the homebuyers and not following its orders, MahaRERA had issued a warrant against the developer and asked the collector department to auction the plot in Mulund. The 2,597.40 sq m plot near Jawahar Talkies compound in Mulund West is valued at Rs 40.25 crore. The money from the auction was to be used to repay the homebuyers a sum of Rs 23 crore.
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