WORLI HIGH RISE OWNERS GRANTED INTEREST ON POSSESSION DELAY

MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has allowed Omkar Realtors and Developers 12-month extension on the possession date in addition to the one-year Covid period moratorium and directed the developer to pay interest on delayed possession for a flat in Omkar 1973 Worli from July 1, 2021 till the actual possession.

Home buyers Sanjay and Shailaja Gaikwad had booked flat no 4601 on the 46th floor of Tower C in Omkar 1973 Worli in June 2017 and paid Rs 21 crore out of the total consideration of Rs 24.50 crore with the promise of possession by June 30, 2019. The complainants had approached MahaRERA with a complaint seeking interest on delayed possession and compensation under Section 18 of Real Estate (Regulation and Development) Act, 2016.

During the hearings, advocate Godfrey Pimenta, appearing for the complainant, contended that the model agreement in Form no V prescribes only six months reasonable extension of time for delivery of the flat as per section 8 of MOFA if the delay is on account of non-availability of building materials like steel or cement, on account of war, civil conflict or Act of God or any orders or notification from the government or competent authority. He said the developer did not cite any of these reasons for seeking an extension.

He also argued that the developer had alternatively offered to transfer four flats of equal carpet area in Tower A to his client, thereby acknowledging its inability to hand over possession on time.

Adv. Mohnish Choudhary, appearing for the developer, denied the claims, and argued that the date of possession mentioned on MahaRERA portal is June 30, 2021 and therefore the complaint is premature and should be dismissed. Authority should dismiss the complaint since prayers for compensation have to be dealt with by the Adjudicating Officer as per RERA sections 71 and 72. After hearing both sides, MahaRERA member Mahesh Pathak said the complainants’ had signed the agreement willingly in 2017, and no grievances can be entertained four years later.

He added that the developer was entitled to one year extension in the possession date till June 30, 2021, but even on that date the project was incomplete.

THE DEVELOPER WAS ENTITLED TO ONE YEAR EXTENSION IN THE POSSESSION DATE TILL JUNE 30, 2021, BUT EVEN ON THAT DATE THE PROJECT WAS INCOMPLETE