If the firm fails, then it would be liable to pay interest for the delay held for creating ruckus at police station
Mumbai: A home-buyer who approached Real Estate Regulatory Authority (RERA) with a complaint related to unreasonable possession date, got a relief after the bench directed the developer to prepone the possession date by two years. The RERA bench preponed the date of possession from 2020 to 2018, failing which the developer would be liable to pay interest for delay.
The Complainant Bais Taj Kumar had purchased an apartment in the developer Veena Realcon Private Limited project named Veena Serenity situated in Chembur in September 2016.
“Even though we paid substantial consideration amount for the said apartment, the developer failed to execute and register the agreement for sale. Also, the draft agreement for sale is not in conformity with the Real Estate (Regulation and Development) Act, 2016 and the rules made thereunder,” said Kumar. The complainant also alleged that the developer had put the extended date as December 2020 for project completion, which is unreasonable.
“The developer is also denying to pass on the GST input tax credit to us and charging interest for having delayed the payments inspite of the work not being completed,” added Kumar.
Hence, the complainant prayed that the developer be directed to execute and register the agreement for sale to commit to a reasonable timeline for handing over possession.
The representative of the developer said they were willing to execute the agreement of sale. Further, he submitted that they had put the prolonged date of project completion in their MahaRERA registration as compliances pertaining to sewerage waste management have been pending even though the project is complete.
He also submitted that GST input credit will be passed on to the homebuyers and that the possession of the said apartment would be handed over by December 2018. The complainant also accepted the revised time-line for project completion.
Hence, the RERA bench said the parties were directed to execute the agreement for sale as per the provisions of section 13 of the Real Estate (Regulation and Development) Act 2016 and the rules and regulations made thereunder.
“The developer shall handover possession of the said apartment with Occupancy Certificate to the home-buyer before the period ending December 31, 2018, failing which the developer shall be liable to pay interest to the Complainant from January 1, 2019 till the actual date of possession. This will be on the entire amount paid by the complainant to the developer,” stated the order.
The said interest shall be at the rate as prescribed under Rule 18 of the Maharashtra Real Estate (Regulation and Development) (Registration of Real Estate Projects, Registration of Real Estate Agents, Rate of Interest and Disclosures on Website) Rules, 2017.