A Pune-based developer showed his willingness to pay 47 home buyers interest for delayed possession
In two different cases, homebuyers won against developers to and received full interest for delayed possession. In the first case, a Pune-based developer showed his willingness to pay 47 home buyers interest for delayed possession. While in another case, a Mumbai-based developer agreed to not raise the pending three per cent consideration amount demand from homebuyers, and that the same should be treated as interest for delay in possession payable by the builder to the complainant.
In the first case, nearly 47 homebuyers in the project located in Pune's Panshet Road had approached the Maharashtra Real Estate Regulatory Authority (MahaRERA), seeking direction that the developer should pay them interest for the delayed possession. The complainants wanted the authority to direct the developer to give them possession within six months.The complainant had raised the objection that the possession date was December 2016, but they haven't yet received the possession. They had booked the flat in 2011-12.
The developer Darode Jog Kulkarni Venture then agreed to hand over the possession to the complainants till December 2018 and also pay the interest for the delayed possession as per the registered agreement till the actual date of possession from December 2016.
In another case, a homebuyer Brian Aranha had approached MahaRERA stating that he had booked a flat in the developer's building at Mira Road. He registered the agreement for sale dated September 2014 though the agreement didn't mention any date of possession, it was promised to be given in December 2015. The complainant further stated that he had paid 97 per cent of the consideration amount to the developer. During the hearing, both the developer and homebuyer agreed that in lieu of the delay in handing over the possession of the flat, the developer shall not raise balance three per cent consideration amount demand and he same should be treated as interest for delay, payable by the homebuyer to the developer.
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