Orders for auction issued by MahaRera in 250 cases

Orders for auction issued by MahaRera in 250 cases
20/07/2019 , by , in News/Views

In at least 253 cases, the Maharashtra Real Estate Regulatory Authority (Maha-Rera) has ordered seizure and auction of properties of builders to refund flat buyers who are yet to receive possession.

“Under the provisions of Section 40 of RERA Act, there are close to 200 cases of recovery of unpaid amounts (interest, compensation and/or penalty), as determined by orders passed by MahaRERA or Adjudicating Officers(AO) of Maha-RERA,” Gautam Chatterjee, chairman, MahaRERA said.

The 200-odd cases constitute 4% of the 5,000 orders passed till date by MahaRERA and AOs of the authority.

 

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