MahaRERA orders Vidhi Realtors to refund money with interest to homebuyers
The Maharashtra Real EstateRegulatory Authority (MahaRERA) has come to the rescue of two home buyers, directing two developers to refund them their investment amount with 10.05 interest for delayed possession of apartments in projects located in Malad West and Thane West.
In a separate order, MahaRERA dismissed a complaint by 47 home owners of a Pune housing project after leading developer Darade Jog, who had failed to deliver the flats on time, agreed to pay them interest from December 2016 onwards till actual possession of the apartments.
Both the rulings are ex-parte orders, which means that one of the parties involved in the case were not present. In both these cases, the builders were not present during the hearings.
Haripal Nakai, who booked flat a 15th floor flat in the 22-storey Gaurav Discovery on New Mahakali Road in Malad West, lodged a complaint with MahaRERA that Vidhi Realtors failed to deliver the flat by the given deadline of December 2015. With no sign of possession two years later too, he withdrew from the project. He also demanded that his investment in the flat should be refunded with interest besides he should be compensated as per Section 18 of the Real Estate (Regulation and Development) Act (RERA).
As the developer was not present at two consecutive hearings, adjudicating officer Bhalchandra Kapadnis, member, MahaRERA, passed an exparte order, saying that Nakai was eligible for refund.
Kapadnis said Nakai paid a total sum of Rs 41.98 lakh since May 2012, besides Rs 4.78 lakh as stamp duty and registration charges in October 2013. He directed the developer to refund Rs 46.74 lakh with 10.05 per cent interest as per SBI’s Marginal Cost of Lending Rate (MCLR) from the respective dates of payment. “Claim of the compensation is hereby rejected because the interest awarded is compensatory in nature,” he said. The order asked the developer to reimburse Rs 20,000 towards the cost of the complaint.
The second case was also adjudicated by Kapadnis, who asked developer Shree Balaji Associates to refund a sum of Rs 45. 54 lakh to home buyer Jitendra Petkar with 10.5 per cent interest for failing to deliver possession of the flat he booked at Trinity Heights in Thane West by June 30, 2017. He said the developer failed to turn up for two consecutive hearings, and hence, he had to pass an ex-parte order.
In a separate case, 47 home buyers from Shriniwas Sinhagad County, a 13-storey project by Darode Jog Kulkarni Venture near Sinhagad Fort in Pune, had approached MahaRERA, saying that they had booked flats in 2011and 2012 and were promised possession by December 31, 2016. But a year on, the developer had failed to deliver the flats.
But the developer told adjudicating officer Vijay Satbir Singh, Member, MahaRERA, that possession would be given by December 2018 and offered to pay interest to flat owners from the deadline till actual delivery of flats as per clause 13 of the registered agreement. The complaint was then dismissed.
- Satish Nandgaonkar [ET Realty]
In a separate order, MahaRERA dismissed a complaint by 47 home owners of a Pune housing project after leading developer Darade Jog, who had failed to deliver the flats on time, agreed to pay them interest from December 2016 onwards till actual possession of the apartments.
Both the rulings are ex-parte orders, which means that one of the parties involved in the case were not present. In both these cases, the builders were not present during the hearings.
Haripal Nakai, who booked flat a 15th floor flat in the 22-storey Gaurav Discovery on New Mahakali Road in Malad West, lodged a complaint with MahaRERA that Vidhi Realtors failed to deliver the flat by the given deadline of December 2015. With no sign of possession two years later too, he withdrew from the project. He also demanded that his investment in the flat should be refunded with interest besides he should be compensated as per Section 18 of the Real Estate (Regulation and Development) Act (RERA).
As the developer was not present at two consecutive hearings, adjudicating officer Bhalchandra Kapadnis, member, MahaRERA, passed an exparte order, saying that Nakai was eligible for refund.
Kapadnis said Nakai paid a total sum of Rs 41.98 lakh since May 2012, besides Rs 4.78 lakh as stamp duty and registration charges in October 2013. He directed the developer to refund Rs 46.74 lakh with 10.05 per cent interest as per SBI’s Marginal Cost of Lending Rate (MCLR) from the respective dates of payment. “Claim of the compensation is hereby rejected because the interest awarded is compensatory in nature,” he said. The order asked the developer to reimburse Rs 20,000 towards the cost of the complaint.
The second case was also adjudicated by Kapadnis, who asked developer Shree Balaji Associates to refund a sum of Rs 45. 54 lakh to home buyer Jitendra Petkar with 10.5 per cent interest for failing to deliver possession of the flat he booked at Trinity Heights in Thane West by June 30, 2017. He said the developer failed to turn up for two consecutive hearings, and hence, he had to pass an ex-parte order.
In a separate case, 47 home buyers from Shriniwas Sinhagad County, a 13-storey project by Darode Jog Kulkarni Venture near Sinhagad Fort in Pune, had approached MahaRERA, saying that they had booked flats in 2011and 2012 and were promised possession by December 31, 2016. But a year on, the developer had failed to deliver the flats.
But the developer told adjudicating officer Vijay Satbir Singh, Member, MahaRERA, that possession would be given by December 2018 and offered to pay interest to flat owners from the deadline till actual delivery of flats as per clause 13 of the registered agreement. The complaint was then dismissed.
- Satish Nandgaonkar [ET Realty]
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