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RERA Authorities should direct all builders of delayed projects to pay interest to allottees at once

Dated on: Thursday 26th October 2017

The Mumbai Grahak Panchayat in a recent letter written to the Maharashtra RERA Authority, MahaRERA, has demanded that the Authority should order builders of projects with delayed possession to pay interests to all the allottees. The representative from MGP said that the intent of introducing RERA was to penalize such developers without causing further troubles to the homebuyers. Whereas, since the implementation of the Act, homebuyers have been approaching the Authority individually by complaining against such builders.

The Maharashtra RERA Authority has received more than 1300 complaints and most of the complaints seem to be from homebuyers struggling to get possession of their homes. 

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