The provisions of RERA have an overriding effect over the provisions of section 8 of the Arbitration and Conciliation Act, 1996, MahaRERA said, adding that they get can get the jurisdiction to adjudicate upon disputes related to an arbitration deal.A MahaRERA bench directed the developer to pay a 10.05%interest on Rs 4.54 lakh from July 1, 2017 till the date of handing over possession. The bench held that as the developer was paying the EMIs on the amount provided by a finance company, they did not have to pay any interest on it to the buyers. The developer also has to pay Rs 20,000 towards the complaint cost.The bench of B D Kapadnis and the adjudicating officer was hearing the complaint of Ganesh Lonkar against DSK Developers, which was developing DSK Mayurban and was to hand over the flats by June 30, 2017. The company failed to meet the deadline and the complaint was filed under section 18 of RERA. The advocate added that the flat was booked in the name of Lonkar and wife, Sharmila , and only one of them was party.MahaRERA said a complaint filed by one of them was "maintainable in law".

Source: Times of India January 04, 2018 19:17 UTC