Maharera Recovers Rs 4.71 Crores Compensation From Builder For 8 Consumers In Nagpur
Nagpur, 9th November 2023: The Maharashtra Real Estate Regulatory Authority (Maharera) has successfully recovered a whopping Rs 4.71 crores in compensation from a single developer for 8 consumers in Nagpur. The recovery is a result of Maharera’s persistent efforts to enforce warrants and hold developers accountable for their obligations.
Maharera has been actively coordinating with collector offices to execute warrants issued for compensation to consumers. This proactive approach has initiated auction proceedings, leading to the confiscation of properties belonging to developers who failed to comply. In other cases, developers are opting to settle compensation issues through negotiations with consumers to avoid the forfeiture of their income.
The Nagpur City Tehsildar Office took action against Hagwood Commercial Developers Pvt. Ltd., appointed for a Nagpur project, initiating the sealing of their bank account and levying on December 7. This decisive action resulted in the successful recovery of Rs 4.71 crores.
To date, Maharera has issued 1053 warrants for the recovery of damages totaling Rs 627.70 crores. Of these, Maharera has successfully recovered Rs 133.56 crores against 190 warrants. The regulatory authority continues its relentless efforts to recover the remaining amount.
The Nagpur case involved 18 consumers from 6 projects, anticipating compensation of Rs 10.03 crores. The recovered amount of Rs 4.71 crores significantly eases the process for affected customers to receive their due compensation.
