In a recent ruling by the Karnataka Real Estate Regulatory Authority (RERA), Maars Infra Developers Pvt Ltd was ordered to pay ₹7,12,638 to a homebuyer as compensation for a delay in delivering possession of a flat. Here’s a summary of the case:
Case Summary:
Parties Involved:
- Complainant (Homebuyer): The individual who purchased the flat.
- Respondent (Builder): Maars Infra Developers Pvt Ltd.
Key Dates:
- Booking Date: September 18, 2018
- Sale Agreement Date: November 17, 2018
- Expected Possession Date: March 14, 2022 (with a 6-month grace period)
- Actual Possession Date: September 22, 2023
Background:
- The homebuyer booked a flat in the “Shriram Blue” project and paid ₹71,92,007 out of the total price of ₹77,18,221.
- The agreement specified that possession of the flat should be handed over by March 14, 2022, with an additional grace period of 6 months, making the final deadline September 14, 2022.
- However, the builder did not deliver the flat or execute the sale deed until September 22, 2023.
Homebuyer’s Claims:
- The homebuyer highlighted the delay in possession and the absence of an occupancy certificate.
- The builder’s offer of a ₹1,75,000 discount was rejected by the homebuyer, who sought ₹10,30,444 as compensation for the delay.
Authority’s Ruling:
- The Authority noted that the builder failed to meet the agreed-upon terms, resulting in a one-year delay.
- Referring to the Supreme Court’s decision in M/s Newtech Promoters and Developers Pvt. Ltd vs. State of Uttar Pradesh & Ors, the Authority confirmed that the homebuyer’s right to claim interest for delay is absolute under RERA, 2016.
- Consequently, the builder was directed to pay ₹7,12,638 as interest to the homebuyer within 60 days.
Key Takeaways:
- Builders are required to meet agreed possession dates or face compensation for delays.
- Homebuyers have an unequivocal right to seek interest for delays, as affirmed by recent Supreme Court rulings.
- This decision highlights the necessity for builders to comply with RERA regulations and the legal recourse available to homebuyers for delays.
Posted and reproduced in Public Interest by
Adv. Sulaiman Bhimani Legal Consultant
Expert in RERA & Consumer Matters, Co-operative Scty Matters,
Deem Conveyance, Family Matters, and Property Disputes.
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