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‘25% of due cost to be paid after handing over possession’

DNMUM417800 | 7/9/2018 | Author : Varun Singh | WC :222 | Business & Economy



In an interesting order, the Maharashtra Real Estate Regulatory Authority told a developer that he can ask 25 per cent of the remaining consideration towards the flat cost, only when he hands over the possession. Normally the amount remaining during the time of possession is hardly between five to 10 per cent of the total flat cost. The stand was taken after the builder delayed in handing over possession of the flat.
Home buyers Chaaya and Abhishek Sulhadia had complained against the developer. Pragatej Builders and Developets Pvt Ltd. The Complainants had purchased an apartment in Vishnuchandra Sky situated at Wadala via registered agreement for sale dated March 22, 2014. Complainants stated that they have already paid 75 per
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