MahaRERA penalises builder for project delay

MahaRERA penalises builder for project delay
14/10/2017 , by , in News/Views

The Maharashtra Real Estate Regulatory Authority (MahaRERA), on Wednesday, issued an order against Darode Jog Homes Pvt. Ltd for the delay in possession of its Padamnabh project in Moshi, Pune. According to the complainants, the agreement dates differed from the date of completion as mentioned by the developer while registering the project with MahaRERA. Therefore, the two complainants Pravin Hiwale and Anand Mutha had sought refund of the amounts paid.

The order, issued by adjudicating officer and MahaRERA member B D Kapadnis, states that the developer has to pay Rs 17,44,291 to Pravin Hiwale and Rs 23,03,630 to Anand Mutha with interests — marginal costs of funds based lending rate of SBI at 8.15% plus 2% with effect from May 1. The order adds that the respondent shall pay compensation to the complainants at 9% from the date of respective payments till April 30, 2017. Besides, the builder has to pay the complainants Rs 20,000 towards the cost of lodging the complaints.

Hiwale was supposed to get possession of the in April and Mutha in May. The developer, while registering the project with MahaRERA, mentioned the date of completion as December 31, 2018.

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