MahaRERA Retrieves Rs 160 Crore from Builders

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    The Maharashtra Real Estate Regulatory Authority (MahaRERA) has successfully recovered Rs 160 crore from 117 projects through 237 recovery warrants.

    A senior official from MahaRERA informed TOI that this achievement marks the highest number of recovery warrant orders executed by any regulator across the country in the fiscal year 2023-24.

    Earlier this year in February, the Ministry of Housing and Urban Affairs urged all states to expedite the execution of recovery warrant orders issued under the Real Estate Regulatory Authority (RERA) Act. Notably, Mumbai suburban areas witnessed the highest number of executed recovery warrant orders, followed by Pune.

    “To enhance the process, MahaRERA appointed a retired additional collector last year to expedite the execution of recovery warrant orders,” mentioned an official.

    In suburban Mumbai, the highest number of warrants—434—were issued for 114 projects, aiming to recover Rs 298 crore. Currently, Rs 71.06 crore has been retrieved from 40 projects through 75 warrants.

    Pune follows as the second highest, with 239 warrants issued to recover Rs 181.49 crore from 123 projects. Among these, 55 warrants were issued to recover Rs 38.90 crore from 35 projects.

    In total, 1,095 warrant orders were issued in 2023-24 to recover Rs 661.15 crore from 421 projects across the state.

    Although the process has been expedited, many complainants are still awaiting the execution of their orders. Arun Seth (80), a Mumbai resident, shared his experience of a recovery warrant order issued by MahaRERA in 2019 regarding a booked flat. However, the execution is pending, and Seth is yet to receive updates from the collector’s office.

    Also read: Karnataka RERA Struggles to Collect Rs 486 Crore in Builder Penalties

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