On a homebuyer’s complaint against Indiabull Real Estate Ltd for delayed possession, the Real Estate Regulatory Authority of Maharashtra (MahaRERA) sends off the homebuyer this time. The reason for such dismiss according to the authority is not mentioning any hand-over date by the developer. Under this circumstance RERA can’t act in rescue of the homebuyer, confirmed the authority. Since RERA has its legal bounds, it can’t perform beyond that.
Case synopsis- Prem Chand had booked apartment 203 in SD-1, in Indiabull’s Savoli Golf City project, located off Khalapur toll naka on the Mumbai-Pune Expressway. This is one of the 16 eight-storeyed buildings of the said project. In his complaint to MahaRERA he quoted that he had paid worth Rs. 2 lac as booking amount for the same in September 26, 2012. Followed by which he paid another tranche of Rs. 2.5 lac to complete 15% of the total property cost as decided, while the remaining 80% was borrowed from Indiabulls Housing Finance Ltd. As, the developer fails to hand-over the project after 5 years, Prem Chand demanded refund of his booking amount with interest and compensation from the company which is apparently Rs. 1.2 lac of amount.
Hearing the developer, the authority asked the buyer to present any official document that would be considered as a proof in support to the possession date mentioned by the developer. Prem Chand failed to produce either the sale agreement with the developer or any other document carrying the agreed date of possession. Indiabulls, on the other hand mentioned July 1, 2017 as the original possession date, yet they have revised the date to February 28, 2019 while registering the same project with MahaRERA.
In the order the state RERA authority official Kapadnis said, “Section 18 of the RERA Act comes into picture only when the promoter fails to complete or he is unable to give possession of the apartment in accordance with the terms of agreement for sale or duly completed by the date specified in the agreement. Here in this case, there is no document or any contention of the complaint showing the agreed date of possession…Therefore, in this circumstance, Section 18 is not applicable.”
“While in most of the cases RERA comes into picture securing the rights of the homebuyers, thus homebuyers are also needed to be equally aware of the effectiveness and the limitations of the central infused law. Therefore, it’s advisable for every homebuyer to ask for every document related to the project development and understand them well in the presence of a competent lawyer hired by the buyer for their enhanced protection purpose in the future,”-said Mr. Mahesh Somani, Head- East Zone, National Association of Realtors India (NAR).
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