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Home buyer gets sale agreement after three years

Monday, June 18, 2018
By Manjiri Chitre

Developer only gave possession letter to the home buyer and denied agreement of sale since the last three years

A home buyer finally got relief after three years in a recent judgment by the Maharashtra Real Estate Regulatory Authority (MahaRERA). According to official sources, the judgment has helped the home buyer get his sale agreements after three years of paying the said booking amount for the flats.

Sources claimed that the home buyer, Dilip Singh Lodha had booked five apartments in developer Aditya Enterprises' project 'Deepmala CHS LTD', located at Vartak Nagar in Thane in 2015. The complainant claimed that the developer had given him the possession letter, but he had been denied the sale agreement since the last three years. Further, the complainant stated that in spite of having paid the booking amount for the flats, the respondent failed to execute and register the agreements for sale. As per the rules, the developer is expected to give the sale agreement to the home buyer immediately after receiving ten per cent of the booking amount.

During the hearing, the developer allegedly claimed that the complainant is only an investor and has also collected interest on his invested amount up to 2016, which Lodha had accepted. Further, the developer put forward a demand to the home buyer, which in the order stated, “The developer has quoted a considerate price of Rs 3,4263,000 for the three apartments and the principal amount paid by the home buyer along with interest from 2016, at the rate prescribed under MahaRERA rules amounting to Rs 2,50,00,000.” The developer further claimed that he would execute and register the agreements of sale for the said three apartments if the home buyer was willing to pay the difference amount of Rs 92,63,000 towards the consideration price for the said three apartments along with applicable taxes. Lodha had accepted this demand, claimed the order.

MahaRERA Chief Gautam Chatterjee was hearing the case, claimed sources. After listening to both the complainant as well as the respondent, the MahaRERA order that followed stated, “In the view of the facts, the parties are directed to execute and register agreements for sales for the five apartments as per the provision of Section 13 of the Real Estate (Regulation and Development) Act, 2016 and the rules and regulations made thereunder within 60 days from the date of this order.”

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