MahaRERA recovers Rs 200.23 crore from defaulted developers

This includes Rs 46.47 crore from Mumbai city, Rs 76.33 crore from Mumbai suburban, Rs 39.10 crore from Pune, Rs 11.65 crore from Thane, Rs 9.65 crore from Nagpur, Rs 7.49 crore from Raigad, Rs 4.49 crore from Palghar, Rs 3.84 crore from Sambhajinagar, Rs 1.12 crore from Nashik and Rs 9 lakh from Chandrapur

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has so far managed to recover a sum of Rs 200.23 crore as compensation for the losses incurred by homebuyers, claims MahaRERA officials.

This includes Rs 46.47 crore from Mumbai city, Rs 76.33 crore from Mumbai suburban, Rs 39.10 crore from Pune, Rs 11.65 crore from Thane, Rs 9.65 crore from Nagpur, Rs 7.49 crore from Raigad, Rs 4.49 crore from Palghar, Rs 3.84 crore from Sambhajinagar, Rs 1.12 crore from Nashik and Rs 9 lakh from Chandrapur.

"To 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 228.12 crore rupees are still to be collected from 355 complaints from 73 projects, and in the Pune region, the amount stands at Rs 150.72 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 insiders.

In 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, Sub-Divisional 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, Sub-Divisional Officers and Tahsildars for hearings and makes continuous efforts to ensure the collection of compensation in all the districts, the official added.

So far, MahaRERA has issued 1,163 warrants to recover Rs 705.62 crore from 442 projects for compensation. Of these, Rs 200.23 crore has been recovered from 283 warrants involving 139 real estate projects.

"Complaints 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 Collector's office becomes crucial in recovering the amount. This is done under the Real Estate (Regulation And Development) Act, 2016 's Section 40(1) 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 said.

MahaRERA Chairman speaks

"MahaRERA, on various complaints, issues orders regularly to compensate aggrieved homebuyers. MahaRERA's 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, MahaRERA.

"To 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 said.

District Wise Warrants and Recovery:

Mumbai City: Rs 85.79 crores due from 35 warrants in 19 projects
(Of these, Rs 46.47 crore was recovered involving 22 warrants in 13 projects)

Mumbai Suburban: Rs 304.45 crore due from 440 warrants in 115 projects
(Of these, Rs 76.33 crore was recovered for 85 warrants involving 42 projects)

Pune: Rs 189.82 crore due from 258 warrants in 131 projects
(Of these, Rs 39.10 crore was recovered for 57 warrants related to 36 projects)

Thane: Rs 62.58 crore due from 191 warrants in 81 projects
(Of these, Rs 11.65 crore recovered from 27 warrants in 15 projects)

Alibag/Raigad: Rs 23.79 crore due from 116 warrants in 45 projects
(Of these, Rs 7.49 crore recovered from 57 warrants in 18 projects)

Palghar: Rs 19.86 crore due from 79 warrants in 32 projects
(Of these, Rs 4.49 crore was recovered from 8 warrants in 6 projects)

Nagpur: Rs 10.62 crore due from 18 warrants in 6 projects
(Of these, Rs 9.65 crore recovered from 13 warrants in 2 projects)

Sambajinagar: Rs 4.04 crore due from 13 warrants in 2 projects
(Of these, Rs 3.84 crore was recovered from 9 warrants in 2 projects)

Nashik: Rs 3.85 crore due from 6 warrants in 5 projects
(Rs.1.12 crore recovered from 4 warrants in 4 projects)

Chandrapur: Rs 9 lakh payable from 1 warrant in 1 project
(Entirely recovered)

Sindhudurg: Rs 54 lakh in 2 projects
(Yet to be recovered)

Satara: Rs 12 lakh from 1 project
(Yet to be recovered)

Ratnagiri: Rs 6 lakh from 1 project
(Yet to be recovered)

Solapur:  Rs 1 lakh from 1 project
(Yet to be recovered)

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