For the first time, the Maharashtra Real Estate Regulatory Authority (MAHARERA) has auctioned builder’s properties to get justice for 34 customers. 34 complainants have been given their Rs 4.78 crore by auctioning the properties. Along with this, the amount of expenses incurred while getting justice has also been given to the customers. An amount of Rs 6 lakh has been distributed to the customers as complaint expenses.
According to RERA, a maximum of Rs 31 lakh, 57 thousand and a minimum of Rs 3 lakh, 48 thousand have been given to the complainants as compensation for their loss. RERA was formed in 2015 to provide justice to home buyers. But in the last seven years, RERA was not successful in auctioning the property of any fraudulent builder to compensate for the loss. By completing the process of auctioning the property of the builder of Panvel, RERA has given a strong message to the builders.
According to RERA, 34 complaints were filed by customers against a builder in Panvel. After hearing the case, it was decided to confiscate the property of the builder and auction it to provide justice to the customers. Under this, Morbi Gram Panchayat of Panvel confiscated the property of the builder and auctioned it. RERA got more than expected response in the auction. District officials were successful in selling properties for more than the minimum auction amount. RERA received Rs 4.82 crore from a property worth Rs 3.72 crore.
In a bid to provide speedy justice to customers, RERA has expedited the process of attachment and auction of builders’ properties since late last year. RERA has formed a special team to complete the entire process in a short span of time. RERA has issued warrants against many more builders to compensate the loss to the customers. According to RERA, customers will be given justice by taking action on other warrants issued soon.
