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Long term leases come under the radar of RERA
Dated on: Friday 10th August 2018In a recent judgment, Bombay high court dismissed three appeals filed by Lavasa Corporation against orders passed by Maharashtra real estate appellate tribunal which has entertained the complaints by three persons who had booked apartments developed by Lavasa Corporation through 'agreements to lease'. As per the tribunal, the complaints can be heard by MahaRERA under section 18 of the Maharashtra Real Estate (Regulation & Development) Act wherein the rules direct the builders to provide interest for delay in giving possession in terms of ‘agreement for sale’.
During the hearing, counsel Raj Patel and Kaustav Talukdar who were defending Lavasa asked “ Is the provisions of RERA apply in case of 'agreement to lease', whereas the definition of 'promotor' under RERA includes 'lessor', and is the remedy provided under section 18 can be against a lessor too?”
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Replying to this the High Court said that “Lavasa got itself registered under RERA necessitates an inference that it was aware that the project was "for sale of apartments constructed'' and hence "it was bound by RERA provisions.”It also said that “The 999-year lease is equal to the sale.”
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