MUMBAI
Vinod Sampat, an expert on realty, said developers put longer date of completion to avoid penalty.
A developer of a Kanjurmarg project will now have to hand over a flat to a homebuyer nearly a year before the proposed date of completion, the state housing regulator has ruled.
The order to advance the delivery of flats at Project Runwal Forest – from April 2021 to May 2020 – came after the Maharashtra Real Estate Regulatory Authority observed that the builder had taken "an unreasonably long time" to construct the structure.
MahaRERA ruled against the builder on a complaint by Hitesh Telwala. The homebuyer said that he was issued an allotment letter in October 2015 promising delivery of his flat in four years. He moved the regulator after the developer kept delaying the sale agreement.
As it reviewed the project documents, the regulator found that the builder had revised the completion date to 2021, which would amount to inordinate delay. Under MahaRERA, the revised date of possession for an ongoing project has to be commensurate with the extent of balance development.
"The builder shall handover the possession for the said apartment to the complainant before May 31, 2020, failing which the developer shall be liable to pay interest to the home buyer," said Chairperson Gautam Chatterjee in his order on Monday.
Developer Subodh Runwal said, "There was no discontent, everything was mutually agreed upon and hence the date was advanced."
Vinod Sampat, an expert on realty, said developers put longer date of completion to avoid penalty. "However, with MahaRERA advancing dates, homebuyers will benefit in the end benefiting."
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