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Mumbai: The Maharera has been successful in recovering over Rs.8 crore against 20 recovery warrants issued in Mumbai City, Mumbai Suburbs, Raigarh and Thane District, without going through the entire recovery process of auctioning the properties of the defaulting developers.
Mahrera To carry out the process of recovery, the concerned offices of the District Collectors are going round.
To avoid auction of their properties, developers have come forward and deposited the compensation amount that was to be paid to the homebuyers and in some cases, they have settled the grievances in mutual agreement with the homebuyers.
According to MahaRERA officials, an amount of Rs 8,57,26,846 has been deposited by 11 developers in Mumbai suburban, Mumbai city, Raigarh and Mumbai. Thane In the districts where MahaRERA has issued 20 warrants against them. MahaRERA has so far issued over 1,000 warrants for recovery of Rs 624 crore. Of these, the offices of the District Magistrates have succeeded in collecting 124 warrants worth Rs 113 crore.
“Many of these developers, against whom recovery warrants were issued, were sitting tight under the impression that the recovery process, which involves confiscation and auctioning of developer’s properties, would not be pursued vigorously. But once MahaRERA started following up with the offices. “With the collector, some of them deposited the amount to be recovered on their own,” said an official. While some went on to enter into a settlement with the complainants and even got the agreement executed and registered.”
Five of the developers who have deposited the amount with the collectorate or entered into an agreement with the aggrieved home buyers are from Mumbai Suburban district and include Vidhi Realtors, Skystar BidconLohitka Properties, Vision Developers and vijaykamal gun, Three developers – Matoshree Properties, Shree Sadhguru Deluxe and Falak Developers – are from Mumbai city. Of the total 11, two are from Thane – Ravi Developers and Natasha Developers.
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