The builder, Nirmal Lifestyle Ltd, has to pay simple interest at 9% per annum since September 2006, when the project ought to have been completed, said MahaRera in its order on December 17.
MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRera) recently directed a builder to pay interest for the past 14 years on the amount paid by a buyer for a flat in a high-rise in Kurla for failure to mention the date of possession in a 2003 agreement for sale.
The builder, Nirmal Lifestyle Ltd, has to pay simple interest at 9% per annum since September 2006, when the project ought to have been completed, said MahaRera in its order on December 17. Read More...
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