Rera orders builder to pay interest for delayed possession
The Maharashtra Real Estate Regulatory Authority has directed the developer of a Thane highrise to pay interest to eight flat buyers from the agreed date of possession till the date when the occupation certificate was obtained. The earliest agreed possession date was in December 2016, and latest in December 2017. The eight complainants had booked flats in a project by Soham Estates called Tropical Lagoon on Ghodbunder Road. They moved MahaRera over the delay in possession and sought interest under Section 18 of the RERA Act till the date of actual possession. Their advocate TanujLodha argued that the agreements were executed and the developer had agreed to hand over possession of flats on different dates between 2016 and 2018. However, he did not do so.
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