MahaRERA contends absence of agreement of sale will lead to zero compensation

Dated on: Saturday 6th January 2018

Homebuyers of a Bhagtani project registered a complaint in MahaRERA against the Promoter of Bhagtani’s Serenity project in upscale powai. But all efforts were in vain and they came back empty-handed as the Adjudicating officer and Member, MahaRERA, Bhalchandra Kapadnis dismissed the plea of 15 home buyers in the absence of a registered agreement for sale.  The Apex Authority stated that issuance of allotment letter is the most necessary and initial stage of agreement of sale. Without the agreement of sale, the Section 18 can’t be invoked. In Section 18 it is clearly mentioned that a promoter is liable to pay interest or compensation if he fails to complete or is unable to give possession of an apartment in accordance with the term of the agreement for sale. 

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