While passing an order recently, MahaRERA member B D Kapadnis made a scathing remark against a developer. The authority in context of delay in possession of handing over flats to home buyers said that, 'in order to attract customers, promoter specifies an earlier date, though he knows that he would not complete the construction on the date specified.
This is nothing but sheer dishonesty of the promoter and he indulges in such an unfair practice to attract customers for selling his product and to grab their money at the earliest opportunity."
Kapadnis was hearing a case, filed by a home buyer Subodh Adhikary against a developer named Reliance Enterprises. In this case the home buyer had alleged that he had booked a flat in the developers project, Hill View in Chembur in 2014 and was to get a possession by December 2015, and on account of delay of possession he was seeking interest on the amount he paid the developer. The home buyer had paid close to Rs 63 lakh for the house.
The developer pointed out the reasons of delay, viz acquisition of a plot bearing, D.P. Road setback issue; rehabilitation of the mosque; the delay caused by the authorities in granting high rise NOC and revised letter of intent.
Kapadnis in his judgement noted, In view of this provision, I find that even if it is proved by the respondents that they were prevented by the causes which were beyond their control to complete the project in time, they are entitled to get the extension of 6 months at the most and not more than that.
Finally in the order the authority asked the respondents to pay the complainant simple interest at the rate of 10,5 per cent per annum. on his investment Rs 63,23,242, from January 1, 2016 till receiving the Possession of the flat. The developer was further asked to pay the home buyer Rs 20,00 towards the cost of complaint. Source: DNA India
As indicated by segment 11(2) of the Real Estate (Regulation and Development) Act, 2016, the ad or outline issued or distributed by the promoter is required to say the site address of the expert wherein all points of interest of the enrolled venture are entered and incorporate the undertaking's MahaRERA enlistment number.