Tag Archives: ajoy mehta

MahaRERA website set to display complaints on promoters and projects

Posted on by
maharera-website-set-to-display-complaints-on-promoters-and-projects

Homebuyers can check details of project and developer complaints on the MahaRERA website from Saturday (i.e., February 19, 2022). Officials from the Maharashtra Real Estate Regulatory Authority said. This would help homebuyers make an informed decision before investing in the project. The official said 16,000 project and developer related complaints received by MahaRERA would be displayed on the website.

The project information on the MahaRERA website would allow customers to know the total number and status of complaints, if any, filed on projects, the number of non-compliance requests and other details. At the same time, information about promoters will also be useful for consumers.

Ajoy Mehta, MahaRERA chairperson, said there was a growing demand for these details from homebuyers. According to homebuyers it will help them make an informed decision about a particular project. All these details will be available in a separate category in the coming week. Details of projects and promoters will be available next week and will be available on the main page of the website.

Greater transparency-

The information regarding project complaints is currently available to complainants and concerned developers. Only final orders are available in the public domain. The real estate (Regulation and Development) Act 2016, which enters into force on 1 May 2017, aims to ensure that transactions between builders and home buyers are regulated by the norms of efficiency, transparency and accountability.

Ramesh Prabhu, chairman of the Maharashtra Society Welfare Association said, “The new decision is a step towards greater transparency. The consumer must have all the information about the project. Homebuyers can know the status of projects and developers.”

State Credai (Confederation of Real Estate Developers Associations of India) president Sunil Furde said, the deal would definitely benefit homebuyers as they get all the information they need.

Also read:-

MahaRERA issues warrants for Rs 633 crore against errant builders

The new MahaRERA rule help home buyers to track project status

MahaRERA issues warrants for Rs 633 crore against errant builders

Posted on by
maharera-issues-warrants-for-rs-633-crore-against-errant-builders

Over the past four years, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued takeover orders of Rs 633 crore against misleading developers, with Mumbai’s suburbs bearing the greatest value. Action taken in coordination with 13 debt collection agencies, including those in Mumbai and Pune, included 717 such requests to expedite refunds to flat buyers.

The Mumbai suburb leads with 302 such recoveries, followed by Pune (162) and Thane (99). Warrants have been issued for 256 projects, of which 83 are in Pune, 63 in the suburb of Mumbai and 41 in Thane. Other collections involved include Raigad, Alibaug, Aurangabad, Palgar, Mumbai City, Nagpur, Satara, Nashik, and Sindhudurg.

According to sources, MahaRERA chairman Ajoy Mehta has initiated talks with the revenue secretary and district collectors to execute orders as soon as possible to help home buyers get their investment back. Under the Real Estate (Regulation and Development) Act, the adjudicating officers of MahaRERA issue recovery warrants against misleading developers. They are sent to collectors to confiscate property and recovery of dues.

Details of recovery warrants

MahARERA Secretary Vasant Prabhu said he would publish a list of recovery order details on the MahARERA website. Collectors are notified when arrest warrants are executed. The recovery process involves the collector issuing an attachment certificate. The property then confiscated and the developer has the option to repay the amount. Failure of repayment, follow the auction process. But activists say the orders are mostly on paper and that no one is following them and not executing them, leaving citizens in battle.

Maharashtra Societies Welfare Association Chairman, Ramesh Prabhu said, when MahaRERA issues a debt collection order and the defendant / organizer fails to comply, the recipients can file a request for non-execution of the order. The buyer may want to leave the project and invest elsewhere. These orders need to followed to build the trust of the citizens

Also read:-

DDA extends the last date for its special housing scheme

The new MahaRERA rule help home buyers to track project status