The Maharashtra Real Estate Regulatory Authority has let two buyers withdraw from Marathon Nexzone project in Panvel and directed the developer to refund Rs 86 lakh and Rs 50.16 lakh with 10.75 per cent interest to them after the company failed to give possession, which was promised in the agreement.Patricia Fernandes and Ranjit Nair, the two buyers had booked flats Atlas B wing in Marathon Nexzone in January 2015 with the promise of possession by December 2017. However, this was changed by the developer who made the date of possession December 31, 2021, and since they had a home loan from Punjab National Bank, they sought to withdraw from the project and seek refund under RERA provisions.
It was contended that there was inordinate delay in getting various approvals and the developer could not be held responsible. They contended that highway access permission from National Highway Authority of India (NHAI) was applied for in January 2008, but the approval came only in March 2016. Also, pipeline permission was similarly delayed by seven years and obtained in June 2016; the water supply permission was received only in June 2017, and permission up to 30 floors was obtained in January 2018. The developer had construction approvals till 27th floor and further floors were to be added on the existing structure. It was decided that the respondent cannot delay delivery of possession on such grounds. The developer was directed to execute cancellation deeds and refund both home buyers within 30 days. The cost of complaint, Rs 20,000, was also imposed on the developer.
Courtesy/By: Nayantara Bhattacharyya
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18 Jun 2019
