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Mumbai builder pulled up: MahaRERA awards ₹3 crore interest for 5-year home delay
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Mumbai builder pulled up: MahaRERA awards ₹3 crore interest for 5-year home delay

The Indian Express·Sabah Virani·about 1 month ago
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Most of the other homebuyers paid between Rs 1 crore to 3 crore for their flats, paying their purchase amount over varying time periods. Possibly setting a precedent for hundreds of construction projects delayed much beyond their promised possession date, the MahaRERA on Monday ordered a builder to pay crores in interest to homebuyers of a project delayed by five years. One homebuyer, who had purchased multiple flats worth Rs 8 crore, has been ordered to be paid over Rs 3 crore in collected interest. The project in question is the Wintergreen building, part of the Rivali Park project of the promoter CCI Projects Private Limited on the Western Express Highway, Borivali. Initially promised their homes in 2016, the possession date was delayed multiple times till 2021. 40 homebuyers in the building had complained to the MahaRERA throughout the years, as the promoter extended the possession date multiple times till 2021.…

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