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Relief for homebuyers as MahaRERA pushes strict recovery action

District administrations to enforce recovery warrants against defaulting promoters after regulator’s warning

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Homebuyers awaiting refunds from errant developers will benefit from the order. REPRESENTATION PIC/ISTOCK

Homebuyers awaiting refunds from errant developers will benefit from the order. REPRESENTATION PIC/ISTOCK

Thousands of homebuyers awaiting refunds and compensation from errant developers may finally see movement, after the Maharashtra Real Estate Regulatory Authority (MahaRERA) issued a stern directive to district administrations to strictly enforce recovery warrants against defaulting promoters.

In an official communication sent to district collectors across the state, MahaRERA Chairperson Manoj Saunik raised concerns that several recovery warrants issued by the authority were being returned without exhausting the full range of statutory remedies available under the Real Estate (Regulation and Development) Act, 2016 and the Maharashtra Land Revenue Code, 1966. The failure has led to prolonged non-compliance by developers and continued hardship for homebuyers, the letter read.

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