Mumbai: Three days after asking Mumbai Suburban collector to initiate action against defaulting developers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has urged district collectors of Thane, Palghar and Raigad to expedite the recovery of funds owed to homebuyers by defaulting developers.

Several warrants have been issued for the recovery of outstanding amounts, which remain unpaid despite MahaRERA's rulings in favor of the affected buyers.

MahaRERA emphasized that many homebuyers have invested their life savings into purchasing homes, often taking out bank loans, only to find themselves in legal disputes with developers. While MahaRERA has passed judgments directing developers to refund buyers, the failure to enforce these orders has left buyers in financial distress. The regulatory body has called upon district authorities to take immediate legal action against the defaulters to ensure justice for homebuyers.

In Palghar district, the pending recoveries from three developers—Karm Brahmand Affordable Homes Pvt. Ltd. (₹9.23 crore), Vinay Unique Realtors (₹1.87 crore), and Shanti Realty & Lifespace (₹1.35 crore)—amount to ₹12 crore, accounting for 42% of the district’s outstanding dues. MahaRERA has instructed district officials to initiate appropriate legal proceedings against these firms.

Similarly, in Raigad district, defaulting developers include Vedant Realtors (₹2 crore), Xrbia Varai Developers Pvt. Ltd. (₹13.85 crore), N.K. Bhupeshbabu (₹1 crore), Skyline Sapphire (₹1.50 crore), and Universal Builders & Developers (₹75 lakh), with a total outstanding amount of ₹19 crore, constituting 63% of the district’s pending recoveries.

Thane district has the highest pending recovery amount, with five developers—Nirmal Developers (₹21.19 crore), Seth Developers Pvt. Ltd. (₹26.88 crore), Sushila S. Malge (₹18.30 crore), T. Bhimjiani Realty Pvt. Ltd. (₹35.19 crore), and Acme Housing India Pvt. Ltd. (₹6 crore)—owing a combined ₹107 crore. This constitutes 75% of Thane's total pending recoveries.

MahaRERA has instructed district collectors to submit monthly progress reports on recovery efforts, including details of complaint numbers and action taken. The regulatory body has reiterated its commitment to ensuring that homebuyers receive the refunds they are entitled to and has urged strict enforcement of recovery measures against defaulting developers.