MahaRERA issues warrants worth Rs 633 cr against errant developers
Real Estate

MahaRERA issues warrants worth Rs 633 cr against errant developers

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued recovery warrants worth Rs 633 crore against errant developers, with the highest value in Mumbai's suburbs.

The action was taken in coordination with 13 collectorates, including Mumbai and Pune, having 717 warrants to expedite refunds to home buyers.

Mumbai's suburb area involves 302 such recoveries, followed by Pune 162 and Thane 99. These warrants were issued concerning 256 projects, from which 83 are in Pune, followed by 63 in Mumbai's suburbs and 41 in Thane. Other collectorates include Raigad, Alibaug, Palghar, Mumbai city, Nagpur, Aurangabad, Nashik, Sindhudurg and Satara.

The Chairman of MahaRERA, Ajoy Mehta, is in discussion with the revenue secretary and district collectors to execute the order soon to expedite the investments of home buyers. The adjudicating officers have issued the recovery warrants against errant developers under the Real Estate Regulation and Development Act.

Vasant Prabhu, MahaRERA secretary, said that the recovery warrants include the collector issuing an attachment certificate, attaching the property, and the developer has a chance to repay the amount. If the developers do not pay, then the process is followed by an auction.

Ramesh Prabhu, Chairman of Maharashtra Societies Welfare Association, said that once MahaRERA issued a recovery warrant order and it is not complied by the respondent or promoters, allottees can file a petition on non-execution of the order. Homebuyers may exit from a project and invest somewhere else.

Image Source

Also read: MahaRERA to decide on compensation payable to flat buyers

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued recovery warrants worth Rs 633 crore against errant developers, with the highest value in Mumbai's suburbs. The action was taken in coordination with 13 collectorates, including Mumbai and Pune, having 717 warrants to expedite refunds to home buyers. Mumbai's suburb area involves 302 such recoveries, followed by Pune 162 and Thane 99. These warrants were issued concerning 256 projects, from which 83 are in Pune, followed by 63 in Mumbai's suburbs and 41 in Thane. Other collectorates include Raigad, Alibaug, Palghar, Mumbai city, Nagpur, Aurangabad, Nashik, Sindhudurg and Satara. The Chairman of MahaRERA, Ajoy Mehta, is in discussion with the revenue secretary and district collectors to execute the order soon to expedite the investments of home buyers. The adjudicating officers have issued the recovery warrants against errant developers under the Real Estate Regulation and Development Act. Vasant Prabhu, MahaRERA secretary, said that the recovery warrants include the collector issuing an attachment certificate, attaching the property, and the developer has a chance to repay the amount. If the developers do not pay, then the process is followed by an auction. Ramesh Prabhu, Chairman of Maharashtra Societies Welfare Association, said that once MahaRERA issued a recovery warrant order and it is not complied by the respondent or promoters, allottees can file a petition on non-execution of the order. Homebuyers may exit from a project and invest somewhere else. Image Source Also read: MahaRERA to decide on compensation payable to flat buyers

Next Story
Infrastructure Urban

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Next Story
Infrastructure Urban

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Next Story
Infrastructure Urban

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement