Two commercial units owned by SSV Developers at Amar Mahal in Ghatkopar will be auctioned on December 13 with a reserve price of Rs 1.5 crore to refund four home buyers as per Maharashtra Real Estate Regulatory Authority orders.
Four home buyers had filed complaints with MahaRERA seeking a refund of their investments in flats in Lareina Residency, a proposed 27 storey project in Vikroli East.
The authority had ordered the promoter Hemant Parikh to refund amounts of Rs 73.23 lakh, Rs 22.58 lakh, Rs 34.94 lakh, and Rs 47.97 lakh. However, when the developer failed to comply with the order, they filed for non-execution of the order, and the adjudicating officer had issued revenue recovery warrants under Section 40 (1) of Real Estate (Regulation and Development) Act to attach properties of the developer and auction them.
As per the Maharashtra Land Recovery Code, the recovery warrants were sent to the collector, Mumbai suburban district authority and were further processed by the Kurla tehsildar as per the recovery process. Officials said the two units in Krushal Commercial Tower were sealed accordingly, and the recognised government evaluator valued the properties at Rs 74.24 lakh each, which will be the reserve price for the auction.
According to officials, bidders interested in purchasing the properties could inspect the immovable properties till December 12.
Advocate Mohammed Sharif Dalvi said he had booked flat no 1705 in Lareina Residency, the free sale component of a SRA project in 2017, by paying a sum of Rs 65 lakh. Dalvi, one of the four home buyers, sought a refund under Section 12 of RERA.
Section 12 allows home buyers to withdraw from a project if the information about the project in the prospectus or advertisement promoting it is incorrect or false. Dalvi had booked the flat through agent Sai Estate Consultants Chembur pvt Ltd, but paid the amount to project promoter SSV Developers.
The developer had accused the estate agent of selling the flat for a lesser rate and pocketing 14% brokerage. MahaRERA asked the developer to separately pursue their dispute with the real estate agent and ruled that the home buyer cannot be made to suffer.
“Though MahaRERA issued the order in September 2018 and the recovery warrant was issued on December 31, 2018, there was a delay of 11 months in the further process due to Lok Sabha and Assembly elections.
