MahaRERA Orders Kolte-Patil Developers to Pay Interest for Delayed Possession in Vile Parle Redevelopment Project
MahaRERA has partly allowed a complaint by Manohar Shetty and Lalita M. Shetty against Kolte-Patil Developers, ordering payment of interest at SBI’s highest MCLR + 2% for the delay in handing over possession of a flat in the Jai Vijay redevelopment project from October 2019 to March 2020. The ruling underscores that contractual possession dates bind promoters despite project extensions or external delays.
