Maharashtra RERA asks developer to deliver, not to differentiate between homebuyer, investor
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Synopsis
The ruling is expected to set a precedent for all such matters arising from the refusal of developers to acknowledge the rights of investors as homebuyers that are pending before consumer forums, other state RERA authorities and courts.
Agencies
As per the allotment letters, the developer agreed to hand over possession within two years, with the stipulation that the apartments would be bought back if they were not delivered on time.
MUMBAI: In a landmark ruling, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has refused to differentiate between an investor in a housing project and a homebuyer and has directed a developer to honour contractual obligations.
MahaRERA Asks Nirmal Lifestyle To Pay 9% Interest Since 2006 to Homebuyer for Delayed Possession
Moneylife Digital Team
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Maharashtra Real Estate Regulatory Authority (MahaRERA) recently passed an order directing a developer to pay interest since September 2006 (when the project ought to have been completed) on the total amount paid by a home-buyer for a flat in a high-rise at Kurla for failure to mention the date of possession in a 2003 agreement for sale.
The developer, Nirmal Lifestyle Ltd, has been ordered to pay simple interest at 9% per annum for the past 14 years.
The order says that interest has to be paid on the total consideration of about Rs28.13 lakh that was paid from 2006 till the date of handing over of possession. The developer was represented by advocate Atharva Dandekar and advocate Vaishali Mohite, who said that the apartment would be completed by December 2021.
MahaRERA Asks Developer to Pay Rs60 Lakh as Penalty for Delay in Possession
Moneylife Digital Team
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In a recent order, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Conoor Builders to pay a home-buyer in its Gateway project at Andheri (West), interest at marginal cost lending rate (MCLR) of SBI plus 2% for a three-year delay in possession. According to the home-buyer’s lawyers, the total penal amount is estimated to be around Rs60 lakh.
MahaRERA member, Vijay Satbir Singh, in his order, clarified that the builder cannot transmute its statutory liability to the land owner as there is no privity of contract between the complainant and the land owner (AH Construction) since land owner is not party to the registered sale agreement executed between the complainant and the respondent.
MahaRERA earns nearly Rs 6 50 crore from complaint filing fees freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
MahaRERA imposes Rs 10 lakh penalty on CCI Projects and CCI for delayed possession
Maya M
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The Maharashtra Real Estate Regulatory Authority (MahaRERA) has imposed a Rs 10 lakh penalty on a builder for not complying with its earlier order to hand over possession of six flats by 2019. It also directed the builder to pay interest on the payment made by the buyers from September 2016 till the handing over of flats with occupation / completion certificate and all agreed amenities. The order adds that the builder has to also pay interest of 9% p.a. (per annum) on the amount of consideration paid till now (Rs 8.4 crore) by complainants who had booked six flats in Wintergreen project in Borivali (east). The builder has also been asked to pay a sum of Rs 20,000 towards the cost of their complaint.