Fined for delay in project handover
Maha RERA has cracked down on real estate developers who failed to deliver housing units to buyers on time. A total of Rs. 200.23 crore in compensation has been recovered from these developers. This amount was recovered through 283 recovery warrants issued to developers of 139 real estate projects by Maha RERA.
Out of the Rs. 200.23 crore recovered, Rs. 46.47 crore came from Mumbai, Rs. 76.33 crore from Mumbai suburbs, Rs. 39.10 crore from Pune, Rs. 11.65 crore from Thane, Rs. 9.65 crore from Nagpur, Rs. 7.49 crore from Raigarh, Rs. 4.49 crore from Palghar, Rs. 3.84 crore from Sambhajinagar, Rs. 1.12 crore from Nashik, and Rs. 9 lakh from Chandrapur.
Maha RERA has issued 1,163 warrants totaling Rs. 705.62 crore for 442 projects in Maharashtra. So far, 29% of the total amount has been recovered. Recovery orders have been issued against developers who defaulted on timely handovers, with district collectors tasked to enforce the warrants.
