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Mumbai: MahaRERA upholds another buyer's interest
Updated On: 06 November, 2018 06:00 PM IST | Mumbai | Vinod Kumar Menon
For failing to hand over property possession in promised time, housing regulatory authority directs developer to refund buyer's down payment
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The building, Imperial Heights
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has yet again stood up for a flat buyer, who was refused possession of a house he had booked in Goregaon's Imperial Heights in 2016.
Valuing over Rs 2 crore, the buyer had paid 20 per cent of the amount while the remaining 80 per cent was arranged by the developer-appointed Indiabulls Housing Finance Limited, using a tripartite agreement. However, having failed to hand over the possession of the property, MahaRERA has directed the developer to repay the amount deposited by the buyer along with an interest, in its order dated October 1, 2018.
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