In Pune district, just 39 of 277 recovery warrant orders executed: MahaRERA report

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has revealed that only 39 out of 277 recovery warrant orders have been executed by the Pune district administration. The report highlights that the errant realtors owe a total amount of Rs170.37 crore against the 277 orders that have been issued over the past six years. However, only Rs32.92 crore has been recovered from the 39 executed orders so far. The slow process of execution has been a concern for senior officials at MahaRERA, who are now looking to engage with the district administration again to speed up the recovery of the dues.

Officials from the Pune district administration have attributed the delay in executing MahaRERA’s recovery warrant orders to several other tasks assigned to them. They also mentioned that it is difficult to find properties of errant builders for auction, as they do not have a separate team for executing the recovery warrant orders of MahaRERA. Most of the officials are pulled out from other assignments to execute the task, which is tedious, as they must check all the properties of the developer concerned for auction. They also have to check if the errant realtors want to pay upfront.

MahaRERA issues the recovery warrant orders under Section 40 (1) of the Real Estate (Regulation and Development) Act against the errant developers. The orders are forwarded to district collectors for the attachment of properties of developers for the recovery of dues for incomplete projects. MahaRERA has a nodal officer who follows up with the district collectors on the execution of the orders. The Pune district administration is updating MahaRERA regarding the auctions, though the process is slow.

According to data till December 2022, 884 recovery warrant orders were issued against 351 projects across 13 districts. They involve the recovery of Rs543.84 crore from errant builders. This highlights the dire need to improve the execution of the orders to protect the interests of the homebuyers who have invested their hard-earned money in these projects. The authorities must work together to expedite the process and recover the dues from errant realtors to ensure that the buyers can get possession of their homes.

Next (Thousands face eviction as CHB cancels allotments over unpaid dues)

In Pune district, just 39 of 277 recovery warrant orders executed: MahaRERA report

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