July 14, 2023: The Maharashtra Real Estate Regulatory Authority (MahaRERA) collected around Rs 8.73 crore from five developers of Mumbai, suburban Mumbai and Pune against recovery warrants that were issued against them.
MahaRERA had issued recovery warrants to these five developers on account of incomplete projects. These developers paid the compensation and refunds after MahaRERA issued warrants and avoided auction.
Of the five developers, two from Mumbai- Samruddhi Developers and Wondervalue Realty together paid Rs 6.46 crore. From this amount, Wondervalue Realty paid around Rs 6.26 crore to a homebuyer. Two suburban Mumbai developers Reliance Enterprises and Ruchi Priya Developers paid a compensation of Rs 1.84 crore. Reliance Enterprises also paid compensation of Rs 1.78 crore to one customer. Finally, Pune based Darode Jog Homes paid a compensation of Rs 42.25 lakh to a homebuyer.
Till now the housing regulator has issued 1,015 warrants with compensation of Rs 623.30 crore. Of this total, MahaRERA has recovered Rs 131.32 crore against 180 warrants.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: [email protected]
Related Posts
How to remove promoter/project name from MahaRERA NCLT list?.
31 promoters apply for de-registration: RERA Maharashtra.
Maharashtra becomes the first state to initiate conciliation mechanism under RERA.
MahaRERA grants permission to developers to de-register a residential project.
MahaRERA to start investigations on 300 projects over financial mismatch.
MahaRERA seeks project status update from over 16,000 builders.
