November 07, 2017

 

MUMBAI: In two separate rulings, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed developers to stick to reasonable possession dates promised to buyers, and made the developers give possession much before the revised completion dates they had listed while registering their projects on the MahaRERA portal. In the first case, home buyers Rupal Thacker and Kiran Doshi had lodged a complaint that they had booked an apartment in Sentosa Park, A wing, in Virar’s Ekta Parksville Phase III.

Even though they had paid more than 10 per ent of the flat cost, no agreement for sale was executed by the developer, Ektaworld, they alleged. Their complaint said that while registering the project, the developer listed a revised proposed date of completion, June 30, 2020, and hence they did not wish to continue with the project. Ektaworld contended that the completion was delayed by reasons beyond their control, and said the complainants did not come forward to register the agreement despite several reminders.

During the course of the hearing, the developer and the complainants mutually agreed on a possession date of October 31, 2018. MahaERA Chairperson and Adjudicating Officer Gautam Chatterjee observed that the date put a reasonable timeframe to complete pending work on the project, commensurate with the extent of development already completed, under Rule 4 (2) of Maharashtra Real Estate (Regulation & Development) Rules, 2017.

Chatterjee directed both parties to execute the sale of agreement as per provisions of Section 13 of RERA, and directed the developer to hand over possession before October 31, 2018, failing which they would be liable to pay interest from November 1, 2018 till the actual date of possession at two per cent higher than SBI’s Marginal Cost of Lending Rate prevailing at the time. In a second ruling, home buyer VK Gaonkar had lodged a complaint against Neptune Ventures and Developers Pvt Ltd that he had paid certain booking amounts for a flat in C wing of Neptune Eleve project in Kanjurmarg (East).

At the first hearing, the complainant said he wished to withdraw from the project as the developer had revised the completion deadline from December 31, 2020, to December 31, 2025. The developer assured the complainant that though, while registering the project, they had put a revised deadline, they were committed to giving possession by December 31, 2020.

Both parties were given time to discuss and arrive at an amicable settlement. At the second hearing when the complainant said an amicable settlement was not possible, the developer offered to not stick to the model form of agreement prescribed by MahaRERA – where the schedule of payment is commensurate with the construction schedule – and give possession by December 31, 2020. The developer also offered to accommodate a flexible payment schedule. The complainant then agreed to continue in the project. Chatterjee then directed both parties to execute a registered agreement for sale with the completion date of December 31, 2020, as per provisions of Section 13 of RERA, within 45 days.

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