With RERA coming up with a strict guideline for the builders not to give space for project delay or hold-up, it’s been a huge relief for the home buyers. However, a recent confrontation has showcased that MahaRERA has asked Darode Jog Homes, a reputed name in the industry, to pay back the concurrence amount of two appellants with interest. Also, a compensation amount of 9% of the entire sum and Rs. 20,000/- as reimbursement has been charged from the developer.
Darode Jog Homes Pvt. Ltd has been indicted for the delay in possession of its Moshi Project. As the agreement dates have differed from the date of possession as stated by the builder at the time of registration with MahaRERA, the petitioners have asked for refund of the amounts.
The two complainants namely Pravin Hiwale and Anand Mutha will be reimbursed with Rs. 17, 44,291 and Rs. 23, 03,630 respectively. As stated by MahaRERA, the amounts have to be paid with interests and the marginal costs of funds will be charged at a rate of 8.15%.
Nonetheless, Sudhir Darode, the director of Jog Homes Pvt. Ltd has stated in public that they would opt for a petition after they receive the legal copy of the same. According to him, almost 90% of the work is complete and the group would try its best to deliver the project at the shortest notice.
As per the report, the agreement was signed between Mr. Pravin Hiwale and the builder on October 10, 2014 and the possession was promised to be delivered by December 2016 or within two-and-a-half years from the date of concord. And, now when the entire timeline is over and the project is still not delivered, the buyer has lodged a complaint against the Darode Jog Homes Pvt Ltd. Also, in the case of Anand Mutha, November 2014 was the time of agreement and the same was promised by the builder.