Delayed home possession: Developer can’t go scot-free citing financial unviability or unfavourable situation: Maharashtra Real Estate Tribunal

The tribunal orders the developer to complete the project in Mumbai’s Kandivali area within 12 months, and pay interest to home buyers for delayed possession.

The Maharashtra Real Estate Appellate Tribunal (MREAT) has directed a city-based developer to complete a stalled residential housing project in Mumbai’s Kandivali area within 12 months and pay interest to home buyers from 2013 till the date of possession for bookings made in 2010-2011.

https://www.moneycontrol.com/news/business/real-estate/delayed-home-possession-developer-cant-go-scot-free-under-citing-financial-unviability-or-unfavourable-situation-maharashtra-real-estate-tribunal-8811841.html

Source – Money Control