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Monday 18 January 2021

Possession date binding on builder RERA tribunal

MUMBAI: ‘Possession’ of flat doesn’t mean ‘fit-out possession’ under RERA. Ruling on the sanctity of the ‘specified date’ of possession, Maharashtra Real Estate Appellate Tribunal asked a builder to refund with interest money paid by two buyers who withdrew from a project three months after delivery of their flats was due. 

The tribunal held that the promoters of Palava Lakeside in Kalyan failed to hand over possession of two flats by February 28, 2018, as mentioned in the agreements for sale (AFS) and thus allottees were entitled to withdraw and get a refund with interest. “Section 18 of RERA is absolute on the point of ‘specified date’ mentioned in the agreement for giving possession” and not on any “grace period” mentioned in the agreement, said the tribunal in its judgment. It added that permitting possession beyond the specified date “would lead to disastrous consequences, rendering the agreed date of possession as specified in the AFS irrelevant”. Read More...

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