#RealtyNewsRoundUp: Buyers Can Seek Higher Compensation Than Specified, Consumer Forum Rules

The National Consumer Dispute Redressal Commission has said a homebuyer can seek higher compensation from the builder after taking possession of the property or seek refund of the amount paid for delay in handing over flats for “unreasonable” period. Builders can’t hide behind the clause in the builder-buyer agreement to pay Rs 5 per sq feet per month as compensation for delay, the apex panel said.

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The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ordered a Mumbai builder to obtain the occupancy certificate (OC) for his project within three months or pay an interest amount to a resident. The order holds a huge significance for a city, where more than 10,000 buildings do not have the certificates.

Meanwhile, the Maharashtra government is planning to reduce the minimum registration fee a developer payable to the MahaRERA. The minimum fee for registration is proposed to be brought down from Rs 50,000 to Rs 10,000.

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The Maharashtra Housing and Area Development Authority (MHADA) has decided to lower the rates of certain flats in its upcoming Diwali lottery by 30-70 per cent of the ready reckoner (RR) rate. The rebate is applicable to certain houses across all categories.

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The new ITO skywalk in Delhi was inaugurated on October 15 by Housing Minister Hardeep Singh Puri. The Rs 54-crore pedestrian bridge is 570 metres long and will ease movement for pedestrians along the Mathura Road, the Tilak Marg, the Bahadur Shah Zafar Marg and the Sikandra Road. The network has seven entry/exit points at different location locations, and is expected to be used by around 40,000 walkers every day.

Source: Media reports