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2 developers in Maharashtra are liable to pay interest for late delivery

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January 02, 2018

In two different cases, which were adjudicated by MahaRERA adjudicating officers Bhalchandra Kapadnis and Vijay Satbir Singh, an ex-parte order was being passed as developers failed to turn up for hearings. In the prior case, the verdict was in flat buyer’s favor as officer directed the developer to refund total amount (total sum + stamp duty + registration charges) with 10.05 % interest as per SBI’s Marginal Cost of Lending Rate (MCLR) from the respective date of payment.

In the latter case, the complaint was dismissed as developer offered to pay interest to flat owners from the deadline till actual delivery of flats and promised that possession would be given within extended stipulated time.

For More Visit: www.rerafiling.com

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Carpet area in RERA

June 04, 2019

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Projects registering in September to pay minimum Rs 2 lakh penalty in Maharashtra!

September 11, 2017

MahaRERA on Friday issued an order regarding the conclusion of the Meeting held for deciding the penalties on applications received after 16 th August 2017 for ongoing projects. The Authority has decided to keep the penalty amount same for the project applications between 16 th August and 31 st August. However, the amount of penalty on ongoing project registrations from September onwards will be twice as much of the previous amount, i.e., Rs 2 lakhs or an amount equivalent to double the registration fee, up to Rs 10 lakhs. Around 800 ongoing project applications have been received between 16 th August and 31 st August, which will have to pay a minimum Rs 1 lakh penalty and about 54 applications of ongoing projects have been received since the beginning of September, which are required to pay double penalty. For More Details visit: RERA FILING