MahaRERA issues recovery warrants against 12 builders
In a first, the Maharashtra Real EstateRegulatory Authority (MahaRERA) has issued recovery warrants against 12 real estate developers. These warrants have been issued by the authority after the complainant home buyers approached MahaRERA on several occasions asking for execution of earlier orders against these builders directing refund of money.
“We have issued warrants against 12 builders in Mumbai, Thane and Pune for recovery under section 40 (1) of RERA Act that pertains to recovery of interest, penalty and compensation as a land revenue,” Vasant Prabhu, Secreatry MahaRERA, told media.
Of the total 12 warrants, five have been issued against Pune-based realty developer Darode-Jog Properties, while rest cases are from Mumbai and Thane jurisdiction.