In a First, MahaRERA Penalises Home-buyer for Payment Delay to Builder
In an unprecedented case, Maharashtra Real Estate Regulatory Authority (MahaRERA) has asked a home-buyer to pay a penalty (in the form of interest) to the developer for delay in payment. 
 
This judgement stands out in stark contrast since the Authority usually has to issue directives to developers to pay penalties to home-buyers for delayed possession. 
 
In August 2019, the home-buyer Ms Suvarna Nazrekar had signed an agreement with the developer for an under-construction apartment in Pune. However, the home-buyer had not made any payment despite several demand letters between August and December 2019. The developer SMP Namrata Associates filed a complaint in MahaRERA against a home buyer for not making payment. 
 
In January 2020, the home-buyer sent a legal notice to SMP Namrata Associates for non-allotment of car parking space. The home-buyer quoted the non-allotment of car parking space and the increased GST (goods and services tax) charges as the reasons for not making payments to the developer. 
 
In its complaint, SMP Namrata Associates sought MahaRERA’s directions for cancellation of the agreement and forfeiture of the amount paid by the buyer at the time of booking. The developer shared that it was willing to go ahead with the agreement if the buyer was willing to make the payments along with interest. The home-buyer asserted that she was willing to pay the outstanding dues but sought directions be issued to the builder to waive off the interest amount.
 
The home-buyer maintained that the complainant was a developer and so could not file a complaint against the allottee since there is no provision under RERA to file such a complaint.
 
MahaRERA member, Vijay Satbir Singh held that the home-buyer, being an allottee, is liable to make payments in accordance with the terms and condition of the sale agreement. He pointed out that the provision of section 19(6) of the RERA is required to be perused, which reads as under:
“11(6) Every allottee, who has entered into an agreement for sale to take an apartment, plot or building as the case may be, under section 13, shall be responsible to make necessary payments in the manner and within the time as specified in the said agreement for sale and shall pay at the proper time and place, the share of the registration charges, municipal taxes, water and electricity charges, maintenance charges, ground rent, and other charges, if any.”
 
MahaRERA said that in case of any default on the part of allottee or the promoter, either party would be entitled to seek interest for such a default as prescribed by the Real Estate (Regulation & Development) Act, 2016.
 
Mr Singh added in his order “Accordingly, if the respondent (buyer) has made any default in timely payment as per the agreement for sale, she would be liable to pay interest for the delayed payment at the rate of Marginal Cost Lending Rate (MCLR) of SBI plus 2% as prescribed under RERA.”
 
MahaRERA has directed the home-buyer to pay the builder within a month, failing which the developer would be entitled to terminate the agreement for sale in accordance with the terms and conditions of the agreement for sale.
 
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    COMMENTS

    swarke

    2 weeks ago

    The article should also explain if the home buyer does not honor the verdict then what is the course of action for developer ?
    Invariably ..... if one looks at the arbitration proceedings at Stock Exchanges, wherein the verdict goes against an investor as an individual & he / she does not honor it, there is no mechanism to panelize.

    as against this, the broker OR developer can be easily panelized if they refuse to honor the verdict that may have gone against them !!

    ssbh.dceo

    2 weeks ago

    BALANCED JUDGEMENT.

    i_sakarwala

    3 weeks ago

    If the contractual obligations are not fulfilled as per the agreement.... Then the builder or developer has a right to seek recourse from the constituted authority. In this case, the buyer was bound by the registered agreement to pay .

    ganeshiyer95

    3 weeks ago

    This is not good, now seeing this case, developers will use every tactic by use of law to bully homebuyers. This needs to be kept in check.

    Soaring vegetable prices dampen festive spirit
    Even as the festive season of Navratri is around the corner, the rising prices of vegetables are giving a headache to the common man. Prices of all vegetables, including potatoes, tomatoes and onions are touching the sky and there seems to be no hope of a respite any time soon.
     
    Vegetable traders say that due to heavy rains during the last phase of this monsoon season, the arrival of vegetables in the market has been at a low due to the crops being affected.
     
    In New Delhi's Azadpur mandi, the wholesale price of potatoes has soared from Rs 16 to Rs 51 per kg in the last one week. The wholesale price of onions has reduced marginally but their retail price remains unchanged. The wholesale price of onions varies between Rs 12.5 and Rs 35 per kg while their retail price is between Rs 45 and Rs 60 per kg.
     
    Tomato prices had decreased marginally a few days ago but now they have again risen. The wholesale price of tomatos varies from Rs 6 to Rs 42 per kg while the retail price is between Rs 60 to Rs 70 per kg.
     
    Vegetable seller Balveer from Greater Noida said as the arrival of vegetables in the wholesale mandis is quite less and the prices are high they too sell the vegetables at high prices.
     
    Chambers of Azadpur Fruits and Vegetables Association President M. R. Kriplani says that the prices of fruits and vegetables are high due to the supply being less than the demand.
     
    Traders say the festival of Navratri is round the corner during which the majority of people in North India do not eat non-vegetarian food so the demand for vegetables increases. But there is no hope of an early improvement in the arrival of vegetables in the mandis and, therefore, there is no scope of the vegetable prices coming down.
     
    The retail rates per kg of vegetables in the Delhi-NCR region on October 12 were: Potatoes (Rs 45-55), onions (Rs 45-60), tomatoes (Rs 60-70), cauliflower(Rs 120-150), cabbage (Rs 70-80), gourd/ghee (Rs 60), Luffa (Rs 60), Okra (Rs60), cucumber (Rs 50-60), pumpkin (Rs50), brinjal (Rs 60), capsicum (Rs 120-150), spinach (Rs 60), bitter gourd (Rs 80), parwal (Rs 80), raw papaya (Rs 50), raw bananas (Rs 50), tinda (Rs 100), kundru (Rs 60) and peas (Rs 200).
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    shadikatyal

    3 weeks ago

    Is this anything news [romosed by Modi Avhey Din are here and one should ask simple question ARE WE BETTER OFF NOW

    Offer for an Amazon Gift Card in Exchange for Review
    “It’s unwise to incentivize positive skewed consumer reviews,” the FTC wrote in a business blog in April 2019.
     
    Companies are understandably hesitant to admit when they’ve compensated customers to write positive reviews. However, under FTC law, companies have no choice. If they want to use incentivized reviews in their marketing, they need to ensure that whatever they did to obtain the review that might affect its credibility is adequately disclosed to consumers making purchasing decisions.
     
    Which brings us to a postcard a TINA.org staffer recently received from an Amazon seller from whom she purchased a highly rated electric kettle weeks earlier. The offer couldn’t have been any clearer: Write a review on Amazon and receive a $15 Amazon gift card.
     
    While the seller did not stipulate in the instructions (seen below) that the review must be positive, the steps to redeem the gift card showed five yellow stars as an example of a star rating our staffer might want to consider leaving.
     
    Nothing in the instructions said she had to reveal in the review that the reason she wrote it was to receive an Amazon gift card. In fact, on the other side of the postcard, the seller advised her not to include a photo of the card in the review:
     
    Attention: For your account security, please don’t attach this picture card when you leave product review.
     
    But there’s another reason that the Amazon seller may have wanted to keep its “picture card” from public view: Amazon prohibits sellers from offering customers “compensation of any kind” in exchange for writing reviews, regardless of whether or not the incentive for posting is disclosed.
     
    “We want Amazon customers to shop with confidence knowing that the reviews they read are authentic and relevant,” an Amazon spokesperson said in response to an inquiry by TINA.org.
     
    “We have clear policies for both reviewers and selling partners that prohibit abuse of our community features, and we suspend, ban and take legal action against those who violate these policies.”
     
    TINA.org has passed along the Amazon seller’s information. The seller, Dreamy_MRD, did not respond to a TINA.org request for comment.
     
    Find more of our coverage on reviews here.
     
     
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    COMMENTS

    Newme

    3 weeks ago

    That\'s why Yelp is no more. Positive reviews were bought and negative reviews were removed again for money.

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