MahaRERA Orders Nirmal Lifestyle to Refund INR 66 Lakh to Buyer for Delayed Possession
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Nirmal Lifestyle to refund INR 66 lakh to a buyer for delayed possession.
MahareraNirmal LifestyleReal Estate RegulationDelayed PossessionRefundReal Estate MaharashtraJul 01, 2024
Recently, MahaRERA has directed Nirmal Lifestyle, a prominent property developer in Mumbai, to refund INR 66 lakh to a buyer for delayed possession. The order was passed after the buyer filed a complaint with the authority, alleging that Nirmal Lifestyle had failed to deliver possession of the flat as per the agreement.
About Nirmal Lifestyle
Nirmal Lifestyle is a leading real estate developer in Mumbai, known for its luxurious and affordable residential projects. The company has several ongoing and completed projects in the city, and has a reputation for delivering quality homes to its customers.
According to the complaint filed by the buyer, Nirmal Lifestyle had promised to deliver possession of the flat within 36 months from the date of booking. However, the developer failed to meet the deadline, and the buyer was forced to wait for an additional 12 months.
MahaRERA's Order
After hearing the complaint, MahaRERA directed Nirmal Lifestyle to refund INR 66 lakh to the buyer, along with an interest of 10.05% per annum from the date of payment. The authority also directed the developer to pay a compensation of INR 2 lakh to the buyer for the mental agony and harassment caused due to the delay.
The order is a significant victory for the buyer, and serves as a warning to property developers who fail to comply with the provisions of the Real Estate (Regulation and Development) Act, 2016. The buyer's advocate, who represented the buyer in the case, welcomed the order and said that it would set a precedent for future cases.
The incident highlights the importance of regulatory bodies like MahaRERA in protecting the interests of homebuyers. It also underscores the need for property developers to comply with the provisions of the Real Estate (Regulation and Development) Act, 2016, and to fulfill their obligations towards buyers.
Frequently Asked Questions
What is MahaRERA?
MahaRERA is a regulatory body established by the Government of Maharashtra to regularize the real estate sector in the state.
What is the complaint against Nirmal Lifestyle?
The buyer filed a complaint with MahaRERA alleging that Nirmal Lifestyle had failed to deliver possession of the flat as per the agreement.
What is the order passed by MahaRERA?
MahaRERA directed Nirmal Lifestyle to refund INR 66 lakh to the buyer, along with an interest of 10.05% per annum from the date of payment, and to pay a compensation of INR 2 lakh to the buyer for the mental agony and harassment caused due to the delay.
Why is this order significant?
The order is a significant victory for the buyer and serves as a warning to property developers who fail to comply with the provisions of the Real Estate (Regulation and Development) Act, 2016.
What does this incident highlight?
The incident highlights the importance of regulatory bodies like MahaRERA in protecting the interests of homebuyers, and the need for property developers to comply with the provisions of the Real Estate (Regulation and Development) Act, 2016, and to fulfill their obligations towards buyers.
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