An association of 53 home buyers approached the Maharashtra Real Estate Regulatory Authority, complaining that the developer has not registered agreements for sale and has failed to hand over possession in 2014 as promised during booking. The authority ordered the developer to register the agreement and the developer also agreed to shift these home buyers in another wing of the building which is likely to be completed soon.
An association of 53 home buyers approached the Maharashtra Real Estate Regulatory Authority, complaining that the developer has not registered agreements for sale and has failed to hand over possession in 2014 as promised during booking. The authority ordered the developer to register the agreement and the developer also agreed to shift these home buyers in another wing of the building which is likely to be completed soon.
The buyers had booked apartments in the project NEPTUNE ELEVE WING A, located at Kanjur Marg, Mumbai, and have paid 10% to 30% of the consideration amount towards the purchase of the apartments from 2010 to 2012.
After an initial hearing on the second date of hearing the developer Neptune Ventures and developers private limited, stated that after discussion with the complainants, they will shift all the complainants to NEPTUNE ELEVE WING C or D as these buildings are likely to be completed earlier than the remaining wings in the project.
The complainants agreed, but with several conditions, like they should not be required to pay any amounts for the said transfer with respect to floor rise etc, money to be charged by the promoter should be as per the subvention scheme as advertised by the promoter, GST input credit obtained by the developer to be passed on by the promoter to the complainants and finally, the revised date of completion mentioned in MahaRERA website is December 2025, the possession of their apartments should be handed over before June 2021.
While disposing the complaint, the authority directed the developer to, execute and register the agreements for sale. The developer was directed to handover the possession of the apartments to the complainant before the period ending June 2021, failing which the respondent shall be liable to pay interest to the complainant from July 2021, till the actual date of possession. The developer cannot charge for floor rise if the buyers are shifted within 4 floors of the originally allotted floor or if shifted to a higher floor due to non-availability of apartments in Wing C or D. Also he has to pass on GST input credit to the complainants as and when credited into the promoter's account.
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