Builder to refund Rs 1.04 cr in 30 days for delayed possession


mumbai mirror, 08-01-2019 19:25:05


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MahaRERA has directed developer Am Estates LLP to refund Rs 1.04 crore to two home buyers within 30 days.

Builder to refund Rs 1.04 cr in 30 days for delayed possession


The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed developer Am Estates LLP to refund Rs1.04 crore to two home buyers

within 30 days for delayed possession of their flats in the Le Reve project in Pune’s Kharadi. Le Reve is a two-tower project of 22 storeys each. Only

four flats in Tower A have been sold.

Home buyers Bharat Gokal and his daughter had booked Flat Nos 201and 202 in Le Reve Phase 1 in September 2013, and filed complaints seeking to

withdraw from the project and a refund of their investment after the developer revised the 2017 possession date to December 31, 2021. They had paid

74 per cent of the flat cost for one flat, and 94 per cent for the other.

In June 2018, MahaRERA chairperson Gautam Chatterjee transferred the complaint to the Pune bench for hearings. During the hearings, the developer

submitted that the delay was not intentional but due to several changes by the planning authority and clearances from local authorities. The developer

said they had purchased TDR in December 2017 by spending Rs 11 crore with the genuine intention of completing the project, and had taken bookings

for only four flats till date due to these difficulties.Holding that the developer had failed to deliver possession as per the agreement terms, and the home buyers were entitled to a refund, MahaRERA

Member MV Kulkarni said, “...the complainants had booked their flats and paid money with the hope of getting shelter. Because of the alleged

difficulties put forth by the respondents, the complainants could not be made to wait for the possession of their dream homes forever,” he said in his

order.

He said a refund of their total investment with 10.70 per cent interest would be sufficient compensation, rejecting the buyers’ demand for a separate

compensation of Rs 5 lakh. He Kulkarni allowed the Gokals to withdraw from the project and directed the developer to refund Rs 39.44 for flat 201 and

Rs 65.45 for flat 202 with 10.70 per cent interest from the date of payments.

When contacted, an Ami Estates LLP spokesperson said, “We had made a submission before the court that we had sent emails to the complainants to

take their money back or quote their price for the flats so that they can be sold. However, they did not respond. We will comply with the court order and

 

are happy that this harassment ends with the court’s decision.” 

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