The Maharashtra Appellate Tribunal has fined the builder who did not give possession of a flat to the buyer within the stipulated time. It asked the builder to pay interest on his investment for the delayed period.
The tribunal brushed aside the contention of the builder, who blamed the Maharashtra Housing Development Authority and the Municipal Corporation of Greater Mumbai for delaying giving permissions because of their internal differences.
On March 22, 2015, the complainant reached an agreement with the builder to buy a flat in Veena Serenity.
As per the agreement, the flat should be ready and should be given possession within 30 months. The builder failed to give possession within the stipulated time, though the buyer paid 90% of the agreed-upon amount.
Therefore, the buyer approached Maha RERA, seeking handover of the flat and payment of compensation by the builder for the delay.
In this backdrop, the Maha RERA directed the builder to pay interest on the investment of the buyer for the period October 26, 2018 to August 1, 2019.
It also asked the buyer to pay the balance of the amount and take possession of the flat.
