Realtor to repay premium for not delivering promised view

Realtor to repay premium for not delivering promised view
25/06/2018 , by , in News/Views

If a real estate developer has charged a premium for a specific view and the view no longer exists, the developer will have to refund the amount to homebuyers. In most property markets, realty developers usually charge an amount for this, implying an additional service provided to the consumer.

In a unique case, a homebuyer had filed a complaint with Maharashtra Real Estate Regulatory Authority (MahaRERA) against realty developer Xrbia Group stating that the developer had charged him a certain amount for premium view of a garden and other amenities.

The complainant homebuyer had booked an apartment in the developer’s project Xrbia Eiffel City Chakan PH2 situated at Chakan in Pune through a provisional allotment letter. However, the view now no longer exists as another building is coming up on the said location.

While the regulator has not passed any order specifically on this matter, the developer finally agreed to not charge the amount towards premium view from the homebuyer. The developer submitted to MahaRERA that since the said premium view is not being provided, he will not charge the said premium amount towards the consideration price of the said apartment. The complainant homebuyer also agreed to the reduction of the premium amount from the balance consideration price.

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