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2 developers in Maharashtra are liable to pay interest for late delivery

Dated on: Friday 29th December 2017

In two different cases, which were adjudicated by MahaRERA adjudicating officers Bhalchandra Kapadnis and Vijay Satbir Singh, an ex-parte order was being passed as developers failed to turn up for hearings. In the prior case, the verdict was in flat buyer’s favor as officer directed the developer to refund total amount (total sum + stamp duty + registration charges) with 10.05 % interest as per SBI’s Marginal Cost of Lending Rate (MCLR) from the respective date of payment.

In the latter case, the complaint was dismissed as developer offered to pay interest to flat owners from the deadline till actual delivery of flats and promised that possession would be given within extended stipulated time.

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