• Delay Compensation

Rera has sent this email "The developer is hereby directed to pay the interest @2% above the MCLR of SBI on the respective amount paid on the respective date commencing from 13.06.2017 till 09/05/2018"

My investment is from a period 2013 till 2017. However the builder has interpreted the above email and paid interest on money paid between 2017 and 2018. 

The completion date was suppose to be in Jan 2016. 

Please advise
Asked 6 months ago in Property Law
Religion: Hindu

3 answers received in 30 minutes.

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16 Answers

You can apply for the revision of the order in the RERA again and ask for the updation of the date from  Jan 2016.

Ganesh Kadam
Advocate, Pune
11931 Answers
121 Consultations

4.9 on 5.0

Please approach RERA again and file application for reading minutes of order with the background of your investment wayback 2013 and submit it for clarification of order with respect to initial invest with principal amount. 

Ramesh Pandey
Advocate, Mumbai
2541 Answers
8 Consultations

5.0 on 5.0

You are entitled to interest from date mentioned in order ie from June 2017 

Ajay Sethi
Advocate, Mumbai
81077 Answers
5010 Consultations

5.0 on 5.0

Hello,

  1. The interest should have started running from the completion date  instead of June. If the period of limitation is not over (60 days) you can file an appeal in the Appellate tribunal and a further appeal in the High Court if need be.
  2. As such, you can also seek enhancement in the interest granted and appeal to have the interest calculation covering the entire period of your investment.

S J Mathew
Advocate, Mumbai
3147 Answers
129 Consultations

5.0 on 5.0

1. IF RERA order specifically mentioned period from "13.06.2017 till 09/05/2018"  THEN builder is liable to pay for this period.

2. You may have to petition RERA again for modification of order, giving exact precise prayer of periods for which compensation is sought.

Hemant Agarwal
Advocate, Mumbai
5546 Answers
25 Consultations

5.0 on 5.0

You are entitle to interest from 2013 to date of order. Approach consumer court. RERA has ordered interest for one year only.

Yogendra Singh Rajawat
Advocate, Jaipur
21427 Answers
31 Consultations

4.4 on 5.0

A. First you have to verify the order passed by RERA in this regard and can appeal the same before Appellate Court if you have not satisfied.

B. In order to claim compensation towards delay in delivery in any cases that the builder is liable to pay interest from the date of commitment including grace period which was given by them towards the delivery of possession in terms of the Agreement. Hence computation of interest is applicable from the date of commitment it cannot be reckoned from the date of booking or agreement. 

B.T. Ravi
Advocate, Bangalore
942 Answers
96 Consultations

5.0 on 5.0

You have approached an authority seeking certain relief.

If you have not clearly mentioned about the details of relief then you cannot raise an objection over the decision.

However if you aggrieved over the decision then you can prefer an appeal over the decision before the RERA appellate tribunal and seek clarifications and remedy.

 

T Kalaiselvan
Advocate, Vellore
71133 Answers
1012 Consultations

5.0 on 5.0

If you are not satisfied with the action of the builder inform the same to the rera or file an execution application.

Regards

Swarupananda Neogi
Advocate, Kolkata
2913 Answers
6 Consultations

4.7 on 5.0

- As the said order of RERA is not favourable , then you can appeal against this order. 

- Further, you can also approach Consumer Court as well. 

Mohammed Shahzad
Advocate, Delhi
6267 Answers
64 Consultations

5.0 on 5.0

Under Section 43 of the RERA Act, 2016 any person aggrieved by an order passed by the Real Estate Regulatory Authority (RERA) can file an appeal. Such an appeal must state the grounds of fact and law on the basis of which the RERA order is challenged. 

Mohammed Mujeeb
Advocate, Hyderabad
19001 Answers
17 Consultations

4.5 on 5.0

A legal notice must be sent to the builder and the RERA tribunal must also be informed of the lapses on the part of the builder and he be advised to either pat within time or file an application for issuing a recovery certificate.

Rahul Mishra
Advocate, Lucknow
11900 Answers
26 Consultations

5.0 on 5.0

If you are not satisfied with the said order you can appeal against the same at appellate tribunal

Prashant Nayak
Advocate, Mumbai
23089 Answers
49 Consultations

4.4 on 5.0

Dear Sir/Madam,

You are suggested file the execution petition in the RERA for recovery of the amount from the developer. 

Ganesh Singh
Advocate, New Delhi
6605 Answers
13 Consultations

4.5 on 5.0

Builder is liable to pay interest for period mentioned in the  order that is from date of commencement 13.06.2017 to 09/05/2018. 

Mohit Kapoor
Advocate, Rohtak
10685 Answers
7 Consultations

5.0 on 5.0

Builder have paid as per orders

Rahul Jatain
Advocate, Rohtak
5365 Answers
4 Consultations

4.8 on 5.0

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