Is that Buiders are Bound to MAHARERA ACT?

Q: As per RERA builder supposed to give us 31St December 2018. But considering work scenario and Progress he cant able to finish there work till April 2019.
So can we demand compensation to builder or not??

Makarand Manchekar, Apartment Resident

7th January 2019

Residential Project Review in Mumbai

compensation for delay in possession

rera

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Most property contracts provide an estimated stipulation of the time period for construction. Please go through your contact papers to figure out the duration. If the possession date is 31st December 2018, then your builder has to give the possession on the given time otherwise he has to pay the penalty up to 10% of the property cost.

Vineet Tendulkar, Mumbai

9th January 2019

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Check you agreement first. If your agreement has the same date of possession then you are liable to get compensation.
The Tribunals constituted under the RERA are functional in most states and can be approached for any disputes relating to delay in possession. However, in those states where the RERA is still under process, it is the District or State Consumer Disputes Redressal Forum which will have jurisdiction (on the basis of the location and the price of the property).

Vinay Dixit, Mumbai

9th January 2019

Hello Makarand,
If the delay has been caused by the builder and he is unable to justify his delay cause that is deemed appropriate by the court, you can expect to receive a compensation of up to 10% of the property value.

Shantanu Kumar, Mumbai

9th January 2019

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