Page 2 - Delayed Possession News Today

Saini is yet to get possession of an apartment she booked in 2013 and has approached the regulator seeking a refund of the amount invested.

The project has been delayed for a decade now and the Bombay High Court has revoked permission issued by the Maharashtra Housing Area and Development Authority to the developer.

Maharashtra’s real estate regulator granted the extensions as it felt there is enough progress to show that these projects will be completed in due course. Six of the projects are located in the Mumbai Metropolitan Region, while one is in Pune and nearing completion.

There are several such stalled redevelopment projects in Mumbai and many people living in transit accommodations. This notice may be the start of many more projects being taken over by the MHADA

According to MahaRERA officials, while reports on a few real estate projects have already been submitted, investigators are preparing reports on some others after progress of construction and other related matters is verified

Of the 1,015 warrants, only 180 have been implemented, resulting in recovery of 21 percent of the receivable amount, or Rs 131 crore, according to MahaRERA data accessed by Moneycontrol.

Started by Nirmal Lifestyle in 2009, the project stalled, and was sold off to Ricardo Constructions of Shapoorji Pallnji in 2019. The latter promised possession by 2021, but failed to do so.

Both directors have been held on complaints of 34 homebuyers who have not got possession of homes they booked in the projects of Nirmal Lifestyle.

Homebuyers at Kalpataru Immensa allege that after paying Rs 1,000 crore they have not got possession and are also not getting a hearing from the MahaRERA.

They allege a nexus between the authorities and builders, due to which registries are not taking place. In the absence of registry, homebuyers do not have ownership rights of the flats, they cannot sell these flat, and will not get any claim in case of a calamity.