The MahaRera has managed to recover over Rs 8 crore against 20 recovery warrants issued in Mumbai city, Mumbai suburbs, Raigad and Thane district, without going through the whole recovery process of auctioning properties of errant developers. Maharera has been pursuing concerned offices of district collectors for carrying out the recovery process
To avoid auctioning of their properties, the developers have come forward and deposited the compensation amount that had to be paid to the homebuyer and in some instances, they have settled the complaints in mutual agreement with the homebuyers. According to MahaRera officials, a sum of Rs 8,57,26,846 has been deposited by 11 developers in Mumbai suburban, Mumbai city, Raigad and Thane districts in matters where the MahaRera has issued as many as 20 warrants against them
https://timesofindia.indiatimes.com/city/mumbai/maharera-recovers-over-8-crore-from-errant-developers/articleshow/100435747.cms
Source: Times Of India
