An association of 53 home buyers approached the Maharashtra Real Estate Regulatory Authority, complaining that the developer has not registered agreements for sale and has failed to hand over possession in 2014 as promised during booking. The authority ordered the developer to register the agreement and the developer also agreed to shift these home buyers in another wing of the building which is likely to be completed soon. The buyers had booked apartments in the project NEPTUNE ELEVE WING A, located at Kanjur Marg, Mumbai, and have paid 10% to 30% of the consideration amount towards the purchase of the apartments from 2010 to 2012. While disposing the complaint, the authority directed the developer to, execute and register the agreements for sale. The developer was directed to handover the possession of the apartments to the complainant before the period ending June 2021, failing which the respondent shall be liable to pay interest to the complainant from July 2021, till the actual date of possession.

Source: dna November 17, 2017 05:03 UTC