Maharashtra Real Estate Appellate Tribunal Dismisses Appeal Due to Delay

What is the Maharashtra Real Estate Appellate Tribunal (MREAT)? A: The Maharashtra Real Estate Appellate Tribunal (MREAT) is a statutory body established under the Real Estate (Regulation and Development) Act, 2016. It is responsible for hearing appeals against orders, decisions, or directions made by the Maharashtra Real Estate Regulatory Authority (MahaRERA). Q: What was the original order by MahaRERA against Agile Real Estate? A: MahaRERA, in an order dated July 29, 2024, directed Agile Real Estate (AREPL) to pay interest to home buyers who had invested in the 'Immensa D' project in Thane for the delay in handing over possession of flats. Q: Why was the appeal by Agile Real Estate dismissed? A: The appeal by Agile Real Estate was dismissed because the company failed to demonstrate a valid reason for the delay in filing the appeal. The tribunal noted that the company had the necessary resources to file the appeal within the limitation period but did not act diligently. Q: What is the 'Immensa D' project mentioned in the article? A: The 'Immensa D' project is a real estate development in Thane, Maharashtra, undertaken by Agile Real Estate. The project faced issues related to the delay in handing over possession of flats to home buyers, leading to the MahaRERA order and subsequent legal proceedings. Q: What is the significance of the tribunal's decision for home buyers and developers? A: The tribunal's decision emphasizes the importance of timely action in legal proceedings. It serves as a reminder to both home buyers and developers to act diligently to protect their rights and interests, especially in the context of real estate projects.

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