Mumbai: Maharashtra Real Estate Regulatory Authority (MahaRERA) issued a directive to the Thane district administration a month ago, instructing them to recover pending dues from developers who have deceived homebuyers.
However, recent reports indicate that the district administrations of Thane, Raigad and Palghar have not only failed to take any action, but refrained from recovering the amount. It has also not issued notices to the concerned developers.
According to sources, a total of Rs 143.67 crore remains unpaid to 195 homebuyers in Thane district alone, with five major developers accounting for Rs 107 crore of this outstanding amount.
In Raigad district, Rs 30.92 crore is pending for 65 homebuyers across 33 projects, with five developers holding Rs 19 crore in dues while in Palghar district Rs 28.19 crore remains to be paid to 79 homebuyers in 33 projects, with three developers responsible for Rs 12 crore in pending payments. Collectors of Thane, Raigad and Palghar could not be contacted for their comment.
Over the past decade, several residential projects have been developed across various cities in the district. Developers often lure buyers with advertisements promising affordable apartments along with modern amenities such as gardens, gyms, schools, and clubhouses.
Many middle-class buyers, eager to own their dream home, invest their life savings and take high-interest bank loans to pay the developers. However, when developers fail to hand over possession of the flats within the stipulated time, homebuyers are left in distress.
In search of justice, many affected buyers filed complaints with MahaRERA, which then conducts hearings and orders developers to refund the buyers within a given timeframe. If the developers fail to comply, the responsibility of recovering the amount falls on the district administration.
However, it has now come to light that for the past six to seven years, the administrations of Thane, Raigad, and Palghar districts have been neglecting these recoveries.
MahaRERA Chairman Manoj Saunik had written to the district collectors last month, urging them to take immediate action. However, despite the lapse of over a month, no steps have been taken.
Despite MahaRERA’s repeated instructions, officials from these districts have not initiated any action against defaulter developers, according to senior sources within the regulatory body.
With no action being taken by the authorities, the helpless homebuyers continue to await justice, as the developers remain unaccountable for their failures.
