The Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced that it will be holding an auction in Pune to recover unpaid compensation owed by a developer to a customer. This is part of MahaRERA‘s ongoing efforts to address complaints from homebuyers regarding non-delivery of possession, partial abandonment of projects, and non-maintenance of prescribed quality by developers.
MahaRERA has issued 277 warrants in response to various complaints in the Pune area, with a total amount of Rs 170.37 crores. The auction will be held at the Tehsildar office on May 10, and the property proposed for auction is valued at Rs 1 crore 63 lakh 45 thousand 41. If the developer wants to stop the auction, they will have to pay the warrant and advertisement amount before May 5.
MahaRERA has also requested district collectors to speed up the process of executing recovery warrants. So far, Rs 32.92 crores have been recovered in 39 cases, and the authority hopes to recover more unpaid compensation through these auctions.