Maharera: Seizure of properties against developers not complying with Maharera recovery orders, provision for direct imprisonment

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(Maharera) Information is being received that provisions have been made for property seizure, freezing of bank accounts, and direct imprisonment against developers who do not comply with Maharera recovery orders. 'Maharera' published a circular related to this on November 18, and the implementation of this recovery order is carried out through the respective district collectors.

According to the new circular of 'Maharera', provisions for property seizure, auction, and imprisonment will be included. This decision will provide relief to home buyers, and Maharashtra has become the first state in the country to make this decision. If the amount for the house is not returned with interest within 60 days of issuing the recovery orders, the complainant will have to file a complaint or application on the 'Maharera' website regarding the developer not returning the amount.

By confiscating the developer's property and auctioning it, the fixed amount obtained from it is given to the concerned complainant. However, according to the new circular of 'MahaRERA', there will also be provisions for imprisonment along with property confiscation and auction.

Summary

• Property confiscation against developers not complying with MahaRERA recovery orders

• Provision for direct imprisonment along with freezing bank accounts

• Maharashtra to be the first state to make such a decision