LODHA CASA RIO - NILJE GAON - WHEN IS THE POSSESSION?

Hi,
Buyers in Maharashtra have option to Section (8) of the Maharashtra Ownership Flats Act, 1963, which makes a developer responsible to refund the money obtained from a customer with interest if he is unable to justify non-completion or delaying possession of his project.

Hi Belson,
Every time, when there is a delay in project, we catch the builders and developers of the project. And we don't try to find out the reality, why there is a delay in project? Nobody want to face the legal issues. The project get delay due to the legal approval in most of the cases. The legal approval authority ask for the huge bribe from the developers. On an average, a developer has to shell out Rs. 800/sq-ft. more than the actual construction cost to the approval authority. Average bribe per square feet paid for every project is Rs. 800. The burden is passed on the buyers. Now, tell me who is the prime guilty?

Right Washim,
Technically speaking, the time consumed in obtaining all approvals adds to the total time expended in completing the project. Any approval which is needed between the launch to the actual start of construction up till handover of the apartments to the buyer will be an additional time factor. Delays here will cause cascading delays in delivering the project as per the promised time.