#RealtyNewsRoundup: MahaRERA Orders Developers To Refund Homebuyers For Undelivered Flats
The Maharashtra Real Estate Regulatory Authority (MahaRERA) in three different cases ordered the developers, who have failed to deliver the apartments long after the set deadline, to refund homeowners their money. The developers that have faced the wrath of the regulatory authority include Pune’s Yemul and Sancheti Associates and Mumbai’s Marathon Group. While the authority ordered Yemul and Sancheti Associates to refund Rs 1 crore along with interest to a homebuyer who was not delivered a flat five years after the booking date. On the other hand, Marathon Group was asked to refund two homebuyers with Rs 86 lakh and Rs 50.16 lakh, each, with 10.75 per cent interest after the developer failed to deliver the flats two years after the date of possession.
The Ghaziabad Development Authority on June 17 has started an anti-encroachment drive during which it raze illegal buildings across the city. In a tentative list released by the authority, the areas where the drive will take place include the flood plains in Loni and Hindon, Balaji Enclave, around Arthala lake and Akash Nagar.
Meanwhile, the authority has also planned to increase the rates of green belts that have been leased out to educational institutions. The proposed rates have been increased to Rs 100 per square metre annually up from the existing Rs 10 per sqm.
The Municipal Corporation of Gurugram has issued an order on June 15 to conduct lift and fire safety across all the buildings that have over five floors. For inspection in high-rises, the corporation plans to hire a third-party auditor.
The Delhi Development Authority has approved the plan to allow people to turn their property, they have purchased in a commercial building, from leasehold to freehold. The move is expected to bring relief to small-unit buyers. Such buyers could approach or apply with the authority for the execution of an apartment deed in their favour in case the developer of the complex does not execute the same with them.
Source: Media reports