MahaRERA: 12 Officers to Speed Up Rs. 912 Cr Recovery

Twelve officers working under the Maharashtra government will help five collectorates in Mumbai speed up the collection processes of MahaRERA Real Estate Regulatory Authority penalties. The majority of non-payments exist in Pune district as well as the Mumbai Metropolitan Regions that include cities of Mumbai and its suburbs and districts of Thane, Raigad and Palghar.

MahaRERA has enacted fines totaling Rs. 912.11 crore until now. The recovery works successfully at Rs. 222 crore while Rs. 689.56 crore persists in outstanding status.

During the budget session of the state legislature minister Chandrashekhar Bawankule stated to the members that the matter would receive immediate attention. Maharashtra became the first in India to execute the Real Estate Regulation and Development Act (RERA) when it came into effect. MahaRERA has successfully issued penalties to disobedient builders yet their past fines remained difficult to collect up until this moment.

Two senior government officials at Mumbai have received appointed positions to handle recovery duties. The Mumbai suburbs now have two additional collectors working in the area. The recovery tasks in Thane district will be performed by both the additional collector and the resident deputy collector simultaneously. The responsibility for task execution has been given to two additional collectors in both Palghar and Raigad. MahaRERA Act section 40(1) states that recovery warrants can be used to seize flats and properties of builders for monetary recovery. The MahaRERA provision extends its recovery powers to flat purchasers in cases when such measures become vital. The recovery warrants issued by MahaRERA in different collectorates have reached 1,342 but execution was performed on just 316 warrants. MahaRERA operates as a civil court entity with authority to direct retired chief secretaries of Maharashtra as its current leadership.