MahaRERA gives relief of interest to 18 homebuyers

Mumbai: A recent ruling of the Maharashtra Real Estate Regulatory Authority (MahaRERA) has given relief to 18 homebuyers after the developer failed to deliver possession of flats in 2015 as promised. In its order, the authority directed the developer, DSK Worldman Projects, to pay interest to the homebuyers from 2015 till such time the possession was given.

The 18 homebuyers had purchased flats in the DSK Sadafuli project located at Warale village, Pune, with each paying an advance amount of `20 to `30 lakh to the developer in separate agreements. A majority of them were promised delivery of flats in 2015 however none received possession till date.The MahaRERA order stated, “The complainants filed the complaint and claimed relief of interest over the amount paid by each of them to the respondent (developer) for every month of delay in handing over possession of the respective flats.”

Section 18 of the RERA Act allows homebuyers to claim interest if possession of their flats is delayed. According to the order, the developer did not appear for the hearing which was conducted on May 10.

Therefore, the regulatory authority passed the order and asked the developer to pay interest at the rate of 10 per cent per annum for every month’s delay.

“The respondent shall pay interest due and payable to each of the complainants within 30 days from the date of this order, and shall be continued for the delay of every month till handing over actual and physical possession of the respective flats to each of the complainants,” read the order.