Pune Homebuyers Struggle As ₹177 Crore Remains Stuck With Developers, MahaRERA Seeks District Collector’s Intervention
Pune Homebuyers Struggle As ₹177 Crore Remains Stuck With Developers, MahaRERA Seeks District Collector’s Intervention
In Pune, several developers are holding onto a staggering ₹177 crore of homebuyers’ money, despite orders from the Maharashtra Real Estate Regulatory Authority (MahaRERA) to refund these amounts. To recover these funds, MahaRERA has sent an official letter to the District Collector.
Many citizens invest their life savings and take out bank loans to purchase homes or apartments. However, despite making payments to developers, they are left without possession of their properties. After approaching MahaRERA, rulings were made in favor of the buyers, instructing developers to return the funds. Yet, the money remains unrecovered. MahaRERA has now issued recovery warrants to the district administration, requesting action against non-compliant developers. MahaRERA Chief Manoj Saunik has formally written to District Collector Jitendra Dudi, urging prompt legal measures to ensure justice for the affected buyers.
The letter highlights that multiple recovery warrants have been sent to the district for various developers. Citizens, who have taken out loans and invested their life savings in these properties, are neither receiving their homes nor their money back. Although MahaRERA has ruled in favor of the buyers, the absence of enforcement means these individuals are still waiting for justice.
Prominent developers such as Marvel Group & Developers, Xrbia Chakan Developers, and D.S. Kulkarni collectively owe ₹96 crore to customers, which accounts for 54% of the total pending recoveries in Pune district. MahaRERA has urged strict action against these developers and has requested monthly progress reports on the recovery efforts.
Developers and Pending Amounts:
- Marvel Group & Developers: ₹67 crore
- Xrbia Chakan Developers: ₹10.61 crore
- D.S. Kulkarni: ₹18.31 crore
Current Homebuyer Status:
- Total Complaints: 274
- Projects Involved: 140
- Total Pending Amount: ₹177.50 crore
- Amount Recovered So Far: ₹42.31 crore
So far, 62 buyers in Pune district have received their refunds, amounting to ₹42.31 crore, following complaints against 37 projects. However, many homebuyers are still waiting for their dues. With MahaRERA’s recent letter to the District Collector, there is renewed hope among the affected customers that their funds will soon be recovered.
