The MahaRERA directed the Panvel tehsildar’s office to auction various properties of N K BhupeshBabu, Navi Mumbai-based developer and promoter of Enkay Garden, to recover around Rs 6.8 crore, mentioned a ToI report. This is after the developer failed to honour the several recovery warrants issued by the MahaRERA. This is part of the Rs 15 crore worth recovery warrants that has been issued by the RERA Maharashtra to Raigad district.
Reviewing the warrants, the MahaRERA has also sent reminders to 13 district collectorates to take immediate action.
Home buyers lodge complaints with the MahaRERA when there is delay in giving possession of the project or the project is abandoned mid-way. The MahaRERA after assessing the problem, instructs developers to pay interest, refund the money or compensate to the home buyers, failure of which results in issuing recovery warrants to the office of district collectorates who have the right to recover the money by way of conducting auction.
The Maharashtra government on January 18, 2023, auctioned property of Nirmal developers in Mulund (West), after the Mumbai-based developer dishonoured the MahaRERA recovery warrant.
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