The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it compulsory for real estate developers to include their bank account details in recovery warrants sent to the revenue department. This move aims to streamline the compensation recovery process for homebuyers facing delays or discrepancies in property transactions. By disclosing developers' bank account information, MahaRERA aims to enhance accountability and ensure timely compensation for affected parties. The authority has recovered over ₹125 crore in the last 14 months and appointed a retired additional collector for compensation recovery.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.