MahaRERA Recovers Rs 2 Bn for Homebuyers from Realtors

06 Dec 2024 CW Team

The Maharashtra Real Estate Regulatory Authority (MahaRERA) announced that it has successfully recovered over Rs 2 billion from developers to compensate homebuyers for their losses. The authority also outlined plans to intensify its recovery efforts further.

MahaRERA issued 1,163 warrants across the state to recover a total of Rs 7 billion, of which Rs 2 billion has been collected from 283 warrants involving 139 real estate projects, as stated in an official release.

Of the recovered amount, Rs 378 crore is due from Mumbai suburban and Pune, where specific efforts are underway to expedite the recovery process, including the appointment of retired Tahsildars (revenue officials) in the offices of district collectorates in these regions.

From the Rs 200 crore recovered, Mumbai city contributed Rs 46.47 crore from 22 warrants in 13 projects, while Mumbai suburban contributed Rs 76.33 crore from 85 warrants in 42 projects. Pune saw Rs 39.10 crore collected from 57 warrants in 36 projects.

MahaRERA's recovery efforts have faced delays in Mumbai suburban and Pune, where notices have been issued for Rs 304.45 crore and Rs 189.82 crore, respectively. The authority has appointed retired Tahsildars on a pilot basis to assist with recovery in these areas.

The Real Estate (Regulation and Development) Act, 2016, grants the District Collector's office the authority to recover dues as land revenue arrears if developers fail to pay compensation within the prescribed time.

Equipment

12 Dec 2025

Escorts Kubota Unveils BS V Next-gen Construction Range at Excon 2025

Escorts Kubota (EKL), one of India’s major engineering groups in the agricultural and construction equipment sectors, unveiled its latest BS V–compliant construction machinery line-up at Excon 2025. The refreshed portfolio underscores the company’s push toward application-driven, high-productivity solutions that reduce ownership costs and meet the needs of India’s expanding infrastructure landscape. With demand rising across urban development, industrial logistics and mining, the new range aims to deliver higher performance, durability and operator comfort.In the earthmoving segment, E..

ACE and Kotak Mahindra Bank Join Hands to Boost Backhoe Loader Financing

Action Construction Equipment (ACE), the world’s largest Pick-n-Carry crane maker and a leading manufacturer of material handling and construction equipment in India, has entered into a Memorandum of Understanding with Kotak Mahindra Bank to enhance the availability of flexible financing options for backhoe loader customers across the country.The collaboration aims to support contractors, infrastructure companies, entrepreneurs, SMEs, and emerging businesses by offering smoother access to credit through customised loan schemes, quicker turnaround times, and the extensive footprint of Kotak M..

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..