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One Refund Paid For Undelivered Flat

Courtesy/By: Nayantara Bhattacharyya | 16 Jun 2019

In a very interesting order the Maharashtra Real Estate Regulatory Authority has ordered a builder to return Rs 1 crore along with interest to abuyer who had booked and paid for the flat but had not received its delivery for five years. The buyer in question was Manjusha Dnyaneshwar Bhusari, a resident of Gangadham Phase 2, Market Yard against Yemul and Sancheti Associates of Narayan Peth.She had booked flat no 204 in 'Peshwal Enclave' project at Sadhashiv Peth in December 2013.

The complainant and her husband had executed a development agreement for a property at Hadapsar in May 2013. The builder had agreed to pay Rs 3.75 crore in this regard. Of this, around Rs 1 crore was to be adjusted by delivery of the booked flat. Due to the incompletion of the flat, the actual possession could not be handed over.A civil suit was filed before a court in Pune in 2016. Subsequently, RERA came into existence and the builder registered the project under RERA website and thereby got extended completion period until July 2018. However, the project remained incomplete. The complainant has approached RERA. Looking at the facts and the plea of the complaints the refund of Rs 1 crore was to be paid with 10.75 percent interest from the date of payment till the realisation of the entire amount.

Courtesy/By: Nayantara Bhattacharyya | 16 Jun 2019