MahaRERA's New Rules: Property Seizure, Account Freeze, Imprisonment for Fraudulent Builders
MahaRERA's New Rules: Property Seizure, Account Freeze, Imprisonment for Fraudulent Builders
- •MahaRERA introduces strict amendments to tackle builders defrauding homebuyers and evading recovery orders.
- •New provisions include property seizure, freezing bank accounts, and potential imprisonment for non-compliant developers.
- •A 60-day deadline is set for returning funds; failure leads to a final hearing and affidavit submission of assets.
- •Developers face up to three months imprisonment via civil courts if they continue to defy orders.
- •The move aims to ensure homebuyers receive timely justice and enhance the effectiveness of the RERA Act.
