RERA asks de­vel­oper to pay up for de­lay­ing pos­ses­sion

The Free Press Journal - - MUMBAI - STAFF RE­PORTER

The Real Es­tate Reg­u­la­tory Author­ity (RERA) has di­rected Nir­mal Life­style De­vel­op­ers to pay a loan in­ter­est of a home­buyer’s flat for de­lay­ing the pos­ses­sion date by two years. The de­vel­oper will have to pay in­ter­est from May this year till the date of pos­ses­sion.

The com­plainant, Ravi Nair, had booked a 600square-feet flat in Nir­mal Life­style’s Kalyan Project named Glory.

Nair claimed that the de­vel­oper had agreed to give pos­ses­sion of the flat on June 2016 with a grace pe­riod of six months as per the sale agree­ment.

The com­plainant had pur­chased the flat with reg­is­tered agree­ment for sale in 2013, for a con­sid­er­a­tion amount of Rs 22,09,320, out of which he has paid Rs 20 lakhs by ob­tain­ing a loan of Rs l7 lakhs. He al­leged that the de­vel­oper has pushed back the date in the Ma­haRERA regis­tra­tion to 2019.

Mean­while, the de­vel­oper’s le­gal ad­vi­sor said that he is ready to set­tle the dis­pute am­i­ca­bly since he has al­ready set­tled it with other buy­ers. How­ever, Nair re­fused to set­tle it.

Con­sid­er­ing that the flat pos­ses­sion has been de­layed ac­cord­ing to the sale agree­ment, RERA di­rected the de­vel­oper to pay the in­ter­est till the date of flat pos­ses­sion.

The or­der clearly stated that, “The re­spon­dent shall pay the in­ter­est within a pe­riod of thirty days from the date on which such in­ter­est be­comes due and payable to the com­plainant and shall also sub­mit the com­pli­ance re­port be­fore this Author­ity within a pe­riod of 30 days from the date of pay­ment.”

Ex­press­ing his sat­is­fac­tion with the or­der, Nair told the Free Press Jour­nal, “The author­ity has looked into the mat­ter pre­cisely and did not ad­journ the mat­ter. This has given home­buy­ers hope that the de­vel­op­ers can no more fool the com­mon man.” The spokesper­son for Nir­mal Life­style, how­ever, re­fused to com­ment on the mat­ter when tried con­tact­ing. While the de­vel­oper re­fused to com­ment on the mat­ter, say­ing they are still ne­go­ti­at­ing with some buy­ers.

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