Mumbai: Ganga Jamna Sangam Society in Khar (W) was recently formed by 19 flat buyers who had paid a large number of builders but still had their apartments.
Maharera’s Chief Order Ajoy Mehta said: “The problem or legal validity of cessation is not important before this authority or within its scope to try its validity.
More important problems …
are the implications of the termination and consequences followed by allottes, including new flats buyers in the component Selling, banks and society in general.
It is very clear that developers obtain the right to develop from the development agreement entered by the community.
“” The community now cannot be an act of termination of the desire of the obligation created by the developer, “he added.
The order of August 21 further said that in termination of employment, the community became a ‘promoter’ and all previous bona fid liabilities created by developers will now “rest on the shoulders of the community”.
It added, “society, thus, now cannot leave allottees, including new flat buyers, with the pretext that the Development Agreement is stopped.
The community, when appointed the developer, must carry out the right test of the Development Agreement entered.
During the project implementation, must supervise and monitor its development by diligently to ensure that the objectives appoint the developer is achieved in a timely and all bona fid liabilities made in the process.
“Said the community” will step into the respondent (Builder) …
and ensure project graduation, maintain interests which will include interest payments for ownership of all existing and all new buyers, if any, …
and without endangering their interest in their individual rights and interests “.
Six flat buyers have approached Maharera complaining that the builder failed to deliver a flat, and look for compensation with interest.
The community also submits an intervening application.
Likewise the Bank of Baroda, which has lent the Builder for this project.
Twelve flats were tempted by the builder to the bank.
The bank proposes that there are still 13 unsold apartments where they have the cost made.
The interest is to recover on bank contributions circulating because the builder does not pay its debt on the loan that is bitten.
Maharera’s order said the public must take the legal road needed to restore interest and other charges.
Second, the interests of the bank will be protected and the same thing must be taken care of when appointing new developers by the community.
All obligations will be transferred to the new or society developers if they occur self-development in ‘whatever’, he added.
“Finally, the community must ensure that all obligations obtained on the date, including the obligation to pay interest on the delayed ownership, all transactions at this time and all the tasks of the responsibilities for clear dates are clearly mentioned,” he said.