What is Revised proposed date of project completion as per rera act? The date of completion is different in agreement

Akshata,

13th August 2017

Buying property in Mumbai

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If builder have not mentioned date of either possesion or completion on aggreement for sale? Which has told dec 2016 verbally that is 3 years from starting project. Now he has registered project on RERA, showing date of completion 2021.What should i do? I have purchased a shop.

Darpan Kothavade,

16th January 2018

Comment

In ongoing projects as per sale agreement my flat date of competition is Dec-2017 while the builder has registered on RERA with project completion date as Dec-2022. Is the builder liable to pay penalty for delay in possession after Dec-2017 or Dec-2022

Kiran, Navi Mumbai

19th September 2017

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If the project is registered under RERA and the builder fails to complete or is unable to give possession of the property within the agreed timed-period, he has to return the total amount with interest at such rate as mentioned in the agreement to sale.

Deepankar Godbole, Mumbai

21st August 2017

Comment

Hello Akshata,
Which project and developer are you talking about? Please, furnish the project name and locality so that i can provide you the completion date. Thanks

Lalit Verma, Mumbai

21st August 2017

Comment

Hi,
The agreement of sale will have to specifically carry the date of possession and the rate of interest in the case of any default. Remember, the time period could differ amongst builders. For new projects, the committed date of delivery is the choice of the developer and so the customers will need to take a decision if they find that the committed date of delivery is too distant they can opt to not purchase the apartment. If your project is register under RERA act then your builder has to pay penalty on it from the date of possession date mentioned in the agreement.

Bikram, Mumbai

21st August 2017

Hiii,

Same problem with mine purchase property , on agreement possession mentioned is dec 17 and on rera registration mentioned Dec 2022... Sharing the rera link : https://maharerait.mahaonline.gov.in/PrintPreview/PrintPreview/UHJvamVjdElEPTc4MiZEaXZpc2lvbj02JlVzZXJJRD03MjU3JlJvbGVJRD0xJkFwcElEPTExNTg3JkFjdGlvbj1TRUFSQ0g%3d

mayur,

10th October 2017

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