MahaRERA recovers Rs 9 crore from five developers after nine warrants.

MUMBAI: After MahaRERA issued warrants for the amount, which was around Rs 9 crore, which was owed to homebuyers as compensation and refunds from five developers, was retrieved without going through the auction process. In order to recover Rs 8.72 crore, the MahaRERA issued nine warrants throughout the city, suburbs, and district of Pune.

The nine warrants, according to MahaRERA officials, were issued because developers did not pay for compensation or a refund.

However, there have been other instances where the builders have paid the homebuyers directly and resolved objections by depositing the funds owed to them with the District Collectorate.

Together, Mumbai-based Samriddhi Developers and Wondervalue Realty paid Rs 6.46 crore. Of this, Wondervalue Realty gave one customer a cheque for Rs. 6.26 crore.

Reliance Enterprises and Ruchi Priya Developers jointly paid a total of Rs 1.84 crore in the Mumbai suburbia, of which Reliance Enterprises paid Rs 1.78 crore to a single property buyer.

A house buyer in the Pune district received compensation from Darode Jog Homes in the amount of roughly Rs. 42 lacks. For the enforcement of recovery warrants issued by the housing regulator, MahaRERA has been pursuing several district collectorates across the nation. 1 015 warrants for the recovery of damages of Rs 623.30 crore have already been issued by MahaRERA.