The Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced the successful recovery of over Rs 2 billion from developers to compensate homebuyers for their losses. The authority also plans to intensify its recovery efforts. MahaRERA issued 1,163 warrants statewide to recover a total of Rs 7 billion, with Rs 2 billion collected from 283 warrants across 139 real estate projects. Rs 3.78 billion is due from Mumbai suburban and Pune, where efforts are underway to expedite recovery, including the appointment of retired Tahsildars (revenue officials) in district collectorate offices. Recovery delays persist in these regions, but MahaRERA's actions are guided by the Real Estate (Regulation and Development) Act, 2016.

Contact:Maharashtra Real Estate Regulatory Authority

Website: www. maharera.maharashtra.gov.in