As possession is getting delayed and now almost late by 7 months, what can I do or is there a way builder would compensate?

Q: As possession is getting delayed and now almost late by 7 months, what can I do or is there a way builder would compensate?

Himanshu Chattwal, Apartment Resident

2nd April 2013

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I agree.. Even I am facing the same problem with a project in Pune. However, the provisions of the MOFA are in addition to the Indian Contract Act, 1872, and the Transfer of Property Act, 1882. A builder may be happy to refund the amount stated in the agreement with interest and compensation that may be awarded, but the consumer would have to resist the same. It is because the prices of properties are rising over a period of time and the price of a flat at the time of booking is lower and rises with progress of construction.

Pravakar Saxena, Pune

3rd April 2013

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does he repay some penalty in form of monthly compensation i have heard some builders doing that

Himanshu Chattwal, Apartment Resident

3rd April 2013

As per Maharashtra Ownership of Flats (Regulation of the Promotion of Construction, Sale, Management & Transfer) Act (MOFA), 1963, in case of delay in possession of constructed flat by a builder, money will be refunded with interest by the builder at the option of the consumer.

Vinay Sharma, Pune

3rd April 2013

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