When a developer termed a complainant as investor, MahaRERA told the builder that the claims of the complainant cannot be denied merely by saying that they are investors and not allottees, since they have invested their money in the project.

By Varun Singh

In an interesting order MahaRERA told a developer that claims of a homebuyer cannot be denied, merely by saying that they are investors and ot allottees.

The reason for this, MahaRERA told the developer that since the complainants have invested their money in the MahaRERA project.

Kamal Agrawal and Babita Agrawal approached MahaRERA against Sakla Enterprises.

The complaints of the Agrawal family was that they wanted MahaRERA to direct the builder to execute the registered agreement for sale with them and hand over possession too.

The Agrawal family claimed that they booked five flats in Sagar Complex, Boisar, for total consideration of Rs 15 lakh for each flat.

The complainants claimed they have paid entire consideration and they were issued five separate allottement letters dated October 9, 2017 igned by the developer and was duly notarized.

As per the allotment letter the developer had agreed to handover the possession within a period of two years or else the developer had agreed to buy back the flats.

To support their claim the complainants even uploaded the allotment letter cum agreement signed y both the parties.

The developer resisted the claims of the complainant and stated that the complainants aren’t allottees but are investor.

The developer further stated the complainants approached the developer for investment purposes, for which the developer handed over blank allotment letters to them as a security.

The developer stated the content of the allotment letter show that the complainants are investor since they were earning returns by investing the amount.

MahaRERA, member Dr Vijay Satbir Singh, stated that provision section 13 of RERA provided that the promoter cannot accept more than 10% amount from the allottees without first registering the agreement for sale with the allottee.

Singh stated that, “The promoter should not have accepted the money from the complainants without first registering the agreements for sale with the complainants.”

MahaRERA told the developer it cannot deny the claims of the complainants meerely by saying that they are investor and not allottees since the complainants have invested their money in the registered project.

The developer was then directed by the developer to execute registered agreement for sale in accordance with the allotment letters cum agreements dated October 9, 2017, failing which the money paid by the complainant be refunded.

Also Read: Builder Knocks MahaRERA Door For Payments From Homebuyers

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