The Maharashtra Real Estate Regulatory Authority (MahaRERA) has successfully recovered over Rs 200 crore from developers to compensate homebuyers for losses, as part of its ongoing efforts to enforce the Real Estate (Regulation and Development) Act, 2016. The regulator issued 1,163 warrants across the state to recover a total of Rs 705.62 crore, with Rs 200.23 crore collected from 283 warrants linked to 139 real estate projects.
MahaRERA’s recovery efforts focused particularly on Mumbai and Pune, where over Rs 378 crore is due. In Mumbai city, Rs 46.47 crore was recovered from 22 warrants related to 13 projects, while Mumbai suburban saw Rs 76.33 crore recovered from 85 warrants in 42 projects. Pune contributed Rs 39.10 crore from 57 warrants involving 36 projects. The authority has also appointed retired Tahsildars (revenue officers) in the district collectorates of Mumbai suburban and Pune to expedite the recovery process. Despite notices for Rs 304.45 crore in Mumbai suburban and Rs 189.82 crore in Pune, progress has been slow, with developers paying smaller amounts than expected. Other districts, including Thane, Palghar, and Chandrapur, are also part of the recovery process, although significant amounts remain unpaid. MahaRERA’s chairman, Manoj Saunik, highlighted that if developers fail to settle dues within the given time, the District Collector’s office will enforce recovery under Section 40(1) of the Real Estate Act. The initiative is expected to strengthen the accountability of developers and ensure compensation for homebuyers.
