ERA REALTORS PRIVATE LIMITED Vs. PRAKASH SHAH

JUDGEMENT

(1.) Appellant has filed this Appeal challenging the judgment and order dtd. 17/3/2023 passed by the Maharashtra Real Estate Appellant Tribunal, Mumbai (Appellate Tribunal), by which the Appellate Tribunal has partly allowed the Appeal filed by Respondents and has modified the order dtd. 25/11/2020 passed by Maharashtra Real Estate Regulatory Authority (Regulatory Authority). Appellant has been directed to pay interest to the allottees on the amount paid by them at the rate of SBI's Highest Marginal Costs of Lending Rate (MCLR) plus 2% with effect from 1/1/2018 till the date of handing over possession of subject apartments to the Respondents. Petitioner is also directed to pay costs of Rs.10,000.00 to the Respondents.

(2.) Briefly stated, facts of the case are that Appellant has undertaken the residential housing project consisting two buildings named 'Alta Monte' and 'Signet' under the Slum Rehabilitation Scheme on property bearing CTS Nos.812, 813, 821 (part), 811A/7 (P), 814 and 844 of village Malad, Taluka Borivali, Mumbai Suburban District. Since the Project is towards implementation of Slum Rehabilitation Scheme, the same consist of rehab and sale component buildings. Respondent took two flats D-4904 and D-4905 in 'D' Wing of the project for total consideration of Rs.3,91,04,400.00 for each of the flats. Petitioner issued two letters of allotment both dtd. 11/9/2013 to Respondents, under which he agreed to handover possession of both the flats to Respondents by 1/6/2017 with grace period of six months. Respondents have paid part consideration of Rs.3,29,20,062.00 for each of the flats. Since the Appellant did not execute agreement with Respondents nor delivered possession of the flats to them, Respondents filed complaints before MahaRERA under the provisions of sec. 18 of the Real Estate (Regulation and Development) Act, 2016 (RERA) praying for issuance of direction to the Appellants to execute a registered agreement for sale in respect of each of the flats, to pay interest for delayed possession and to pass GST credit on to the Respondents.

(3.) Appellant appeared in the Complaint and opposed the same by filing Reply. The Appellant expressed that it was always ready and willing to execute agreement with Respondents and that construction of the building got delayed on account of various force majeure events. That the Appellant registered the project with MahaRERA by declaring the date of completion of project as 31/12/2020.