Should you keep paying your EMIs after the builder misses possession date?
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New Delhi, Aug. 25 -- In a recent case involving a housing complex, Rivali Park Project in Borivali-now called Wintergreen-the builder contended that buyers making payments after the possession date has passed amounts to them agreeing to the delay. But the Maharashtra Real Estate Regulatory Authority (MahaRera) rejected the developer's claim that the homebuyers had consented to the delay because they kept paying the instalments despite the chance in possession date.
"As per Rera guidelines, in case of a delay by the developer in completion of the project, buyers may opt for either cancelling the deal and claiming refund with interest, or to continue the agreement and seek compensation for the delay period," said Mukesh Jain and Associate...
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