Flat delayed by 29 months, builder told to compensate Mumbai couple

The developer, M/s Shriprakash Creative Buildcon JV launched its project, Le Regalia, in Nashik in 2014 and the couple, Minal and Anil Bhosale, had paid Rs37.5 lakh (95% of the property value) for a seventh-floor apartment.

The Maharashtra Real Estate Appellate Tribunal (MREAT) has ordered a Nashik-based developer to pay 15 months’ interest as compensation to a couple from Dadar for a 29-month delay in handing over a flat.

Representational picture (HT PHOTO)

The developer, M/s Shriprakash Creative Buildcon JV launched its project, Le Regalia, in Nashik in 2014 and the couple, Minal and Anil Bhosale, had paid Rs37.5 lakh (95% of the property value) for a seventh-floor apartment, with the developer agreeing to hand over possession by January 2016.

But the developer registered the project with Maharashtra Real Estate Regulatory Authority (MahaRERA) only in 2017, and managed to extend the deadline to June 2018.

Although the MahaRERA had previously ordered the developer to hand over the flat by June 2018 and ordered them to pay interest from July 2018 to the actual date of handing over the flat, the Bhosales approached the MREAT, arguing they had not received any compensation for the delay till June 2018.