MahaRERA will Monitor Recovery Warrants’ Execution | Bombay HC Issued Contempt Notice

MahaRERA will Monitor Recovery Warrants’ Execution | Bombay HC Issued Contempt Notice

31 Jan 2023

Maharashtra Real Estate Regulatory Authority has finally started Monitoring of recovery warrant orders issued against developers. This has come to the fore in the wake of several complaints from consumers related to Slow execution of recovery warrant orders. MahaRERA said recently, The initiative will start with 27 pending recovery warrant orders worth Rs 6.7 Crore, from Raigarh. The orders will be executed through auction Properties by Panvel Tehsil Office for reimbursement of home buyers. MAHARERA has set up a dedicated system for monitoring recovery warrant orders 13 are pending with District Collectors. The official said there would be a "focused approach". Adopted to ensure speedy execution of recovery warrant orders in all districts. "27 out of 74 recovery warrants issued by MahaRERA in Raigarh to be executed by the officers of the Collectorate. System will be implemented in all after Raigarh districts," the official said. Data available on MahaRERA's website revealed that 884 recovery warrants till last December, orders have been issued against 351 projects from 13 districts. 543.84 crore with a recovery amount of Rs. maximum recovery and the projects listed are from Pune, Mumbai, Thane and Raigad collectorates. Collectorate officials of Pune and Mumbai said that though they have started implementing. There is hardly any action in the last two years because of the COVID-19. Recovery warrants are issued under section 40(1) of the Real Estate (Regulation and Development) against defaulting developers. Warrants are sent to collectors for attachment recovery of assets and dues. Decision to monitor execution of MahaRERA. The order of recovery warrants has come as a relief to many distressed homebuyers. A senior citizen of Pune, who has been waiting for almost three years for this execution of recovery warrant orders issued in his favor for more than Rs 50 lakh, Told. "If officials monitor the execution process, it will help a lot. I am tired of going around the collector's office." The Bombay High Court had recently issued a contempt notice against the Mumbai officials of the suburban district administration for not complying with its earlier orders. Execution of recovery warrant against promoters for a project at Malad (West).

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