Tag: MahaRERA recovery warrants

IndustryLatest Stories

Maharashtra: Only 31% Builder Recovery Warrants Executed, Buyers Upset

PUNE: Homebuyers across Maharashtra are expressing their dissatisfaction with the slow progress on recovery warrants issued against non-compliant builders by MahaRERA, with only 31% of cases resolved to date. Despite a directive from the state government to hasten the process, officials revealed that only ₹243 crore has been recovered from the ₹760 crore owed in 1,212 cases. The slow recovery stands in stark contrast to revenue minister Chandrashekhar Bawankule’s promise during the state budget session to eliminate the backlog within three months. Recovery warrants, issued under Section 40(1) of the Real Estate (Regulation and Development) Act (RERA), authorize district administrations…

Latest StoriesRera

Only 30% of MahaRERA Recovery Warrants Executed; ₹527 Crore Pending

PUNE: The progress of MahaRERA in executing recovery warrants has been sluggish, with only 31% of cases resolved. Although the state government has instructed that these cases be handled within three months, officials informed TOI that merely Rs 233 crore has been recovered from the Rs 760 crore due in 1,212 cases across Maharashtra. This slow progress contradicts the revenue minister Chandrakant Bawankule’s promise during the state budget session, where he highlighted the need for faster execution of MahaRERA’s recovery warrant orders to clear the backlog within three months. The recovery warrants are issued under Section 40(1) of the Real…