MahaRERA Recovers Rs 269 Crore Compensation for Homebuyers Since 2017

Since its establishment in May 2017, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has made significant strides in protecting the rights of homebuyers. With the assistance of respective District Collectors, MahaRERA has managed to recover Rs 268.87 crore in compensation for aggrieved homebuyers.

So far, MahaRERA has issued recovery warrants amounting to Rs 792 crore in favor of 1,291 complainants. However, cases involving Rs 103 crore are currently pending before the National Company Law Tribunal (NCLT), where restrictions have been imposed on the recovery process.

As a quasi-judicial body, MahaRERA, similar to other judicial systems including the Supreme Court, has the authority to issue recovery orders on a case-by-case basis. The execution of these orders, however, rests entirely with the revenue machinery, specifically the District Collector’s offices. If a developer fails to pay compensation within the stipulated deadline, the District Collector’s office plays a crucial role in recovering the amount.

Under Section 40(1) of the Real Estate (Regulation and Development) Act, 2016, District Collectors are empowered to recover such dues as arrears of land revenue in accordance with the Maharashtra Land Revenue Code. Accordingly, MahaRERA issues recovery warrants and forwards them to the concerned District Collectors for execution.

Of the total Rs 268.87 crore recovered so far, Mumbai Suburban has recovered Rs 112 crore out of Rs 352 crore due, Mumbai City Rs 53 crore out of Rs 104 crore, Pune Rs 47 crore out of Rs 195 crore, Thane Rs 23 crore out of Rs 74.63 crore, and Alibaug (Raigad) Rs 9.5 crore out of Rs 24 crore.

In contrast, compensation has been fully recovered in Nashik (Rs 4.90 crore), Sindhudurg (Rs 72 lakh), Solapur (Rs 12 lakh), and Chandrapur (Rs 9 lakh).

District-wise warrants and recoveries are as follows:

Mumbai City: Rs 104 crore due through 47 warrants across 27 projects. Of this, Rs 53 crore has been recovered through 28 warrants in 18 projects.

Mumbai Suburban: Rs 352 crore due against 482 warrants in 135 projects. Of this, Rs 112 crore has been recovered through 134 warrants in 66 projects.

Pune: Rs 195 crore due through 274 warrants in 139 projects. Of this, Rs 47 crore has been recovered through 71 warrants in 44 projects.

Thane: Rs 74.63 crore due through 237 warrants in 89 projects. Of this, Rs 23 crore has been recovered through 48 warrants in 25 projects.

Alibaug (Raigad): Rs 24 crore due through 119 warrants in 47 projects. Of this, Rs 9 crore has been recovered through 63 warrants in 22 projects.

Palghar: Rs 20.49 crore due through 86 warrants in 33 projects. Of this, Rs 4.59 crore has been recovered through nine warrants in six projects.

Nagpur: Rs 10.63 crore due through 18 warrants in six projects. Of this, Rs 9.65 crore has been recovered through 13 warrants in two projects.

Chhatrapati Sambhajinagar: Rs 4.04 crore due through 13 warrants in two projects. Of this, Rs 3.84 crore has been recovered through nine warrants in two projects.

Nashik: Rs 3.85 crore due through six warrants in five projects. Rs 4.90 crore has been recovered through six warrants in four projects.

Additionally, Rs 72 lakh has been recovered from two projects in Sindhudurg, Rs 12 lakh from one complaint in Solapur, and Rs 9 lakh from one complaint in Chandrapur.