A builder was directed by MahaRERA to refund the homebuyer entire amount that he had paid along with interest, if agreement isn’t registered. The builder failed to do so, within the stipulated time, now MahaRERA has made the above observation.

By Varun Singh

In an interesting order passed by MahaRERA over a complaint from the homebuyer, where the builder failed to execute the original order of the authority, MahaRERA has now asked the builder to refund the entire amount paid by the homebuyer along with interest in two months time or else pay Rs 5,000 per day as penalty.

Homebuyer Vishal Raut approached MahaRERA recently against the builder Ginger Country Living Pvt Ltd for non execution of an order passed by MahaRERA in 2020.

In 2020 the homebuyer had approached MahaRERA against the builder stating that he had paid a certain amount to the developer and was now seeking refund of the amount he had paid. The project is named Ginger Hills located in Shahpur, Thane.

Raut had booked the flat in the developer’s project in the year 2013 and the allotment letter was  has issued in September 2012. The homebuyer had paid an amount of Rs 4.17 lakh in 2012, however, the builder had neither executed registered agreement for sale nor handed over possession of the apartment to him since last more than seven years. Hence he had lost faith in the builder.

During the hearing in 2020, MahaRERA directed the respondent to execute the registered agreement for sale in accordance with the
allotment letter within a period of one month. Failing which the money paid by the complainant be refunded.

In June the homebuyer again approached MahaRERA, this time for non execution of the order by the developer. While an advocate represented the homebuyer, there was no one from the developer.

MahaRERA’s Vijay Satbir Singh, while hearing the complaint finally passed an order on June 23, that directed the builder to to refund the entire amount paid by the homebuyer  towards the consideration of the flat along with  interest as prescribed under RERA within a period of 2 months failing which, the respondent shall be liable to pay penalty of Rs 5,000 per day for every day of default till actual compliance of the said order. The said penalty amount will get doubled per day after every month.

Also Read: Maharashtra govt plans to redevelop Machchimar Nagar at Cuffe Parade

You May Also Like

Property Prices Surge Significantly Along Yamuna Expressway

Geetanjali Homestate has released a new report showing substantial increases in property…

This Delhi House was sold for Rs 86 Crore, has a Nehru Connection too

This Delhi house located in Vasant Vihar was sold for Rs 86…

Wish To Know Your Ready Reckoner Rates Click Here

There always is this worry amongst home buyers, on how can they…

Repo Rate Unchanged – Housing Set for Festive Season

The Reserve Bank of India has kept the repo rate unchanged at 6.5%, a decision viewed as pivotal for the housing market during the upcoming festive season. With rising property prices and declining sales, this stability in borrowing costs is expected to encourage homebuyer activity and support the overall growth of the real estate sector.