Real Estate Tribunal Rejects Firm's Delayed Appeal

What is the Maharashtra Real Estate Appellate Tribunal (MREAT)? A: The Maharashtra Real Estate Appellate Tribunal (MREAT) is a quasi-judicial body established to hear appeals against the orders of the Maharashtra Real Estate Regulatory Authority (MahaRERA). It plays a crucial role in resolving disputes in the real estate sector. Q: Why did MahaRERA order Agile Real Estate to pay interest to home buyers? A: MahaRERA ordered Agile Real Estate to pay interest to home buyers due to the delay in handing over possession of flats in the ‘Immensa D' project of Kalpataru in Thane. This order was issued to compensate home buyers for the financial hardships caused by the delay. Q: What was the reason given by Agile Real Estate for the delay in filing the appeal? A: Agile Real Estate claimed that a medical contingency with a family member of the advocate on record prevented them from filing the appeal within the limitation period. However, the MREAT rejected this explanation, stating that the company had the resources to engage other advocates to file the appeal timely. Q: What is the significance of the MREAT's decision? A: The MREAT's decision underscores the importance of timely action and adherence to legal procedures in the real estate sector. It reinforces the accountability of developers and the protection of home buyers' rights, setting a precedent for future cases. Q: How does MahaRERA protect the interests of home buyers? A: MahaRERA, the regulatory body for the real estate sector in Maharashtra, ensures transparency and accountability in the industry. It monitors the activities of real estate developers, enforces regulations, and resolves disputes to protect the interests of home buyers.

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