MahaRERA fines Kalpataru Radiance realtor for delayed flat handover to homebuyers
MahaRERA has ordered Keyana Estate LLP to compensate two homebuyers for delays in handing over flats at the Kalpataru Radiance D project. The realtor was also fined Rs 2 lakh for violating real estate regulations. The ruling comes after the promoter failed to meet the original possession deadline of June 30, 2018.
The homebuyers had booked flats in Wing D (Lumina) of the Kalpataru Radiance project, expecting possession by June 30, 2018. Despite receiving an occupation certificate from MHADA on April 10, 2023, the realtor delayed handing over the flats. MahaRERA deemed this delay unjustified and ruled the realtor in breach of its obligations.
Under Section 18 of the Real Estate (Regulation and Development) Act, 2016, the authority directed Keyana Estate LLP to pay interest on the amounts paid by the allottees. This interest applies from January 1, 2020, until the actual handover of possession. The realtor must also pay any additional interest up to the handover date within 30 days of the final payment.
The realtor was found to have acted against the law and faced a penalty of Rs 2 lakh. Public records show no other projects by Keyana Estate LLP in Maharashtra were flagged for similar violations in the last three years.
The ruling ensures the homebuyers receive compensation for the delay, along with interest on their payments. Keyana Estate LLP must comply with the order, including the Rs 2 lakh penalty and timely interest payments. The case highlights MahaRERA's enforcement of deadlines under the Real Estate Act.
