Overall, MahaRERA has listed recovery warrants worth Rs 702. 49 crore against errant developers in 13 districts of the state.
PUNE: The state government has directed collectorates of Mumbai, Pune, Thane and Raigad to speed up recovery warrant orders issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA) in view of the huge pendency, running into nearly Rs 678 crore in these areas.
Overall, MahaRERA has listed recovery warrants worth Rs 702. 49 crore against errant developers in 13 districts of the state. The remaining collectorates include Raigad, Alibaug, Palghar, Nagpur, Aurangabad, Nashik, Sindhudurg Chandrapur and Satara.Additional chief secretary (revenue) Nitin Kareer on Thursday told TOI that he has had a word with the collectors to execute the orders at the earliest.
MahaRERA issues recovery warrant orders if the developer does not abide by the compensation order. The property of the disputed developer is attached by the collectorate and then auctioned to compensate the aggrieved party. The recovery process involves the collector issuing an attachment certificate, following which the property is attached, and the developer is given a chance to repay the amount. If s/he fails to do so, the auction process follows.
The collectors concerned said they have already alerted the tehsildars and the process will commence soon. Of the total 708 recover warrant orders issued across the state, a majority of 671 are from Mumbai, Pune, and Thane, said MahaRERA officials. The warrants were issued in relation to 271 projects across Maharashtra, of which 84 are from Mumbai city and suburban, 83 from Pune, 50 from Thane and 19 from Raigad.
A Pune administration official told TOI, “The process was slow in the last two years due to the Covid-19 pandemic. We should be able to speed it up now. ”
Mumbai city collectorate officials said they have aro- und 31 cases with the recovery worth Rs 73. 29 crore. Some builders have, however, approached the appellate tribunal, while few have committed to pay about 40% of the amount. So, the final tally is being collated, a senior official from the administration said.
Similar initiatives have been taken up by Raigad and Thane administration as work has commenced.
Earlier, MahaRERA chairman Ajoy Mehta had initiated talks with the revenue secretary and collectors of districts to execute the orders as early as possible to help homebuyers retrieve their investments.
Homebuyers have been complaining that in spite of the recovery warrant orders, non-execution has adversely affected the impact of such an authority. “Delayed justice is no justice,” shared an aggrieved homebuyer.
Activists have said recovery warrants take a long time and developers should have properties that can be mortgaged for the refund. “It is ‘Catch 22’ situation. As most of the properties of developers who are unable to pay the consumer have their properties already under lien,” an activist said.
Source: realty.economictimes.indiatimes.com
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