The record
Written from the 1 report below. Nothing here is unsourced.
- The Maharashtra Real Estate Appellate Tribunal ordered the developers of RA Residences in Dadar East to deposit a penalty of 2% of the project cost and execute a conveyance deed for the residential portion.
- The ruling follows allegations that the developers significantly altered the project plan in 2021 without obtaining necessary consent from homeowners, leading to the unauthorized use of floor space index.
- Additionally, the developers must distribute proceeds from commercial units built using additional index and transfer designated parking spaces to the society.
What to watch next
- Execution of the conveyance deed by the promoters
- Compliance with the deposit of the 2% project cost penalty
- Demarcation and handover of the 64 guest-parking spaces
Who said what1
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Maharashtra Real Estate Appellate Tribunal
1 quote · 1 outlet
“conveyance cannot be indefinitely deferred. Once a building is complete, an occupation certificate is obtained, possession is handed over, and the society is registered, the Section 11 obligation to execute conveyance arises and cannot be overridden by a contractual clause linking conveyance to completion of the entire project.”
In the article
…consent. It said consent must be specific and based on full disclosure, and found that the agreements did not provide sufficient details on the proposed use of TDR or FSI from other land. MREAT further held that conveyance cannot be indefinitely deferred. Once a building is complete, an occupation certificate is obtained, possession is handed over, and the society is registered, the Section 11 obligation to execute conveyance arises and cannot be overridden by a contractual clause linking conveyance to completion of the entire project. It also held that once the development potential disclosed to the allottees is exhausted and the obligation to convey has arisen, any subsequently available additional FSI/TDR cannot be used for additional structures…
Coverage1
All filed from India
Named India · IN-MH · RA Residences · Maharashtra Real Estate Appellate Tribunal · MahaRERA · Nilesh Gala
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