The Maharashtra Real Estate Regulatory Authority (RERA) has guided Nirmal Lifestyle Designers to pay a loan interest to a homebuyer for postponing the ownership date by almost two years. The builder should pay interest from May this year until the date of ownership.
The complainant, Ravi Nair, had booked a 600-square-feet flat in Nirmal Lifestyle’s Kalyan Venture named Glory. Nair asserted that the builder had consented to give ownership of the flat by June 2016 with a grace time of a half year according to the deal agreement.
The complainant had purchased the flat with a registered agreement available for sale in 2013, for a sum of Rs 22,09,320, out of which he has paid Rs 20 lakhs by giving an advance of Rs l7 lakhs. He claimed that the builder has pushed back the date in MahaRERA enrollment to 2019.
Then, the engineer’s lawful counselor said that he is prepared to settle the debate genially since he has effectively settled it with different purchasers. Be that as it may, Nair declined to settle it.
Considering that the level ownership has been deferred by the deal agreement, RERA guided the builder to pay the interest till the date of flat ownership.
The request unmistakably expressed that “The respondent will have to pay the interest within thirty days from the date on which such interest becomes due and payable to the complainant and should likewise present the compliance report before this Authority in a time of 30 days from the date of installment.”
Nair was satisfied with the order and said that “The authority has investigated the issue decisively and did not suspend the issue. This has given homebuyers trust that the developers can no more trick the normal man.” The representative for Nirmal Lifestyle declined to remark on the issue when contacted. While the builder also declined to give any remark on the issue, saying they are still consulting with a few purchasers.