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Saturday, Sep 21, 2019

Office buyers in Mumbai file complaint against builder with MahaRERA, get relief

The regulatory body recently ruled in favour of complainants and directed the builder to hand over office space within stipulated time

mumbai Updated: Feb 28, 2018 10:00 IST
Naresh Kamath
Naresh Kamath
Hindustan Times
Office buyers, too, are consumers and can go to RERA.
Office buyers, too, are consumers and can go to RERA.(HT File Photo/Used for representational purpose only)

It’s not just apartment buyers who are approaching the Maharashtra Real Estate Regulatory Authority (MahaRERA) to get their grievances sorted; now even those who have purchased office and commercial spaces have started seeking its help.

Recently, the MahaRERA directed a builder to execute an agreement, give possession of offices within the stipulated time, and charge the rate agreed upon as per the original allotment letter signed in 2009.

The regulatory body was hearing a complaint filed by Promila and Balraj Bansal, who had booked two office units in the Morya Grand project at Oshiwara in August 2009.

The complainants alleged that the builder, Nakta Investment Pvt. Ltd., had promised to hand over the office spaces within 36 months from the date of the project’s Commencement Certificate (CC), but did not do so. They also demanded compensation as the builder had not executed the agreement despite them having paid a substantial amount.

The MahaRERA, headed by chairperson Gautam Chatterjee, ruled that the builder needs to execute the sale agreement within a month. “The respondent shall hand over possession of the said office units, with Occupancy Certificate, to the complainants before the period ending December 31, 2020, failing which the respondent shall be liable to pay interest to the complainant from January 1, 2021, till the actual date of possession, on the entire amount paid by the complainants to the respondent,” the order said.

Office buyers, too, are consumers and can go to RERA, said advocate and RERA expert KK Ramani. “It will only increase transparency in the realty sector,” he said.

Another expert Sanjay Chaturvedi said the problem with office spaces is that 90% are investors. “RERA is not for investors, so many are apprehensive of approaching the regulator,” said Chaturvedi.

The RERA has brought huge relief for buyers who, for years, have been fighting battles with builders.

First Published: Feb 27, 2018 12:35 IST