Overview
- The new procedure sets an expectation that developers pay compensation within 60 days of a MahaRERA order.
- If payment is not made, the homebuyer must file a non-compliance application, which MahaRERA will hear within four weeks.
- Developers found in default may be directed to file an affidavit disclosing movable and immovable assets, bank accounts and investments.
- MahaRERA can issue a recovery warrant to the District Collector to attach or seize assets and bank accounts to recover dues.
- Persistent non-compliance will be referred to the Principal Civil Court, where defaulting builders may face imprisonment of up to three months under the Code of Civil Procedure.