Neelkanth Constructions Ordered to Pay Interest and Execute Conveyance Deed by MahaREAT
In a recent ruling, the Maharashtra Real Estate Appellate Tribunal (MahaREAT) has directed Neelkanth Constructions to pay interest and execute a conveyance deed in favor of the complainant.
MahareatNeelkanth ConstructionsReal EstateConveyance DeedInterest PaymentReal Estate MaharashtraOct 05, 2024
Frequently Asked Questions
What is MahaREAT?
MahaREAT is an appellate tribunal established under the Real Estate (Regulation and Development) Act, 2016, to hear appeals against the orders of MahaRERA.
What was the complaint filed against Neelkanth Constructions?
The complainant had filed a complaint with MahaRERA against Neelkanth Constructions, alleging that the developer had failed to execute a conveyance deed in their favor, despite receiving the full payment for the property.
What was the order passed by MahaREAT?
MahaREAT upheld the order of MahaRERA and directed Neelkanth Constructions to pay interest and execute the conveyance deed in favor of the complainant.
What is the significance of the tribunal's order?
The tribunal's order is a significant ruling in favor of homebuyers in Maharashtra, who have been facing delays and difficulties in getting possession of their properties.
What is the Real Estate (Regulation and Development) Act, 2016?
The Real Estate (Regulation and Development) Act, 2016, is a law that regulates the real estate sector in India and provides for the establishment of regulatory authorities to oversee the sector.
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