Maha real estate regulatory estate asks 13 district to ensure buyers get Rs 730 cr in compensations

Maharashtra's real estate regulator has asked 13 district collector to ensure that compensation payments totalling Rs 730 crore awarded to home buyers, who got duped by developers, reach the affected parties.

The Maharashtra Real Estate Regulatory Authority (MahaRera) has also appointed a retired additional district collector to follow-up in such cases where dues have been pending, an official statement said.

The body said in the last five years, it has issued 733 warrants in which developers have been asked to pay Rs 729.68 crore in compensation payments to home buyers who approached MahaRera after developers did not keep up their promises.

It has written to 13 district collectors to ensure that the duped home buyers get the compensations awarded by the regulator over the last few years, it said.

According to a report of PTI, The 13 districts to which the request has been made from MahaRera include Mumbai city, Mumbai suburbs, Thane, Pune, Raigad, Palghar, Aurangabad, Nagpur, Nashik, Chandrapur, Sindhudurg, Satara and Ratnagiri, it said.

The compensations have been awarded for shortcomings like not delivering possession at scheduled time, abandoning a project midway or inferior quality of construction, as per the statement.