MahaRERA Grants Relief to Over 70 Buyers of Ruparel Skygreens Due to Delayed Possession.

MUMBAI: In a recent ruling, the MahaRERA has offered relief to more than 70 homebuyers who had purchased apartments in the Ruparel Skygreens project in Borivli.

The promoter had failed to deliver the properties to the allottees, including those who had opted for the subvention scheme and the construction link plan scheme, by the agreed-upon dates and the MahaRERA completion deadline of December 2021.

MahaRERA Chairman Ajoy Mehta has directed the promoter to refund the full amounts received from certain allottees, including interest for some and without interest for others.

Additionally, the promoter must execute and register cancellation deeds, cancel the allotment letters and agreements for sale, and refund the payments made by the allottees.

For some, possession of the flats, along with the occupancy certificate (OC) and interest for the delay, must be handed over, based on the specific reliefs sought by each allottee.

However, MahaRERA dismissed a few complaints due to issues of maintainability and insufficient evidence. The authority also vacated an earlier order that had barred Piramal Capital & Housing Finance Limited from taking any coercive action.

This decision was made as MahaRERA had already determined the rights of the allottees and defined the obligations of the promoter.

MahaRERA does not have jurisdiction over the tripartite agreement between the allottee, promoter, and lender, but it did instruct all parties to adhere strictly to the terms of this agreement. Complaints had been raised that the finance company had initiated proceedings under the SARFAESI Act.

The MahaRERA order acknowledged the complexities involved in executing real estate projects, noting that such challenges are well-known to developers undertaking these projects.

One complainant sought a refund due to significant delays in possession of a flat booked in 2017, which was supposed to be handed over by December 2021 according to the agreement.

The complainant highlighted that the promoter had assured that under the subvention scheme, they would bear the cost until physical possession was provided, relieving the complainants of any financial burden.

Another complainant reported that a substantial loan had been disbursed by the finance company to the promoter on behalf of the homebuyers.

Additionally, a separate complainant noted that they had booked and registered an agreement for sale in March 2018, with possession promised by December 2021. As of now, there has been no progress on the construction of the C wing.