Mumbai: MahaRERA asks Omkar Realtors to compensate homebuyers for delay in possession of flat
Mumbai: MahaRERA asks Omkar Builders to compensate homebuyers for delay in possession of flat
Mumbai: The Maharashtra Real Estate Regulatory Authority (MahaRERA), Mumbai has bestowed big relief to two homebuyers of same family by entitling them compensation through interest payment on their invested amount over delayed possession of their booked apartment in a luxury project Alta Monte and Signet at Malad.
The regulatory authority, however, also justified that since the project is nearing for completion and paying interest at this juncture may affect project completion. Thus, liberty has been granted to builders to adjust the interest amount along with the outstanding dues payable by the homebuyer to prevent any jeopardy.
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MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has restrained a builder from making any changes to a sanctioned plan without following the provisions laid down under Section 14 of the Real Estate (Regulation and Development) Act (RERA) which requires prior consent of two-thirds of the buyers.
After issuing the order, MahaRERA member B D Kapadnis on January 28, directed the builder to pay the complainant 9% simple interest on the Rs 1 crore that was paid in April 2014 till handing over the possession of seven shops in a redevelopment project at D N Nagar in Andheri (W).
Mumbai: MahaRERA directs ace builder to pay interest to homebuyers for delayed possession
Nirmal Lifestyle also ordered to pay additional Rs 20,000 as cost of complaints
Mumbai: In a major relief to the homebuyers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed a builder to pay interest on amount received from them over the delayed possession of flats. In addition, it has ordered to pay additional Rs 20,000 each to complainants as cost of complaints.
The matter is about seven hombuyers who purchased flats in Zircon Building at Mulund, a project by Nirmal Lifestyle Ltd. The homebuyers filed complaint in MahaRERA seeking interest on the amount they paid as a compensation for the delay in possession of the project under Section 18 of RERA Act. The complainants were represented by Godfrey Pimenta.