India News | HRERA Balances Equities in Emaar Case, Caps Delay Compensation at Occupation Certificate; Allottee Directed to Clear Dues with Interest
Get latest articles and stories on India at LatestLY. The Haryana Real Estate Regulatory Authority (HRERA), Gurugram, has passed a balanced and reasoned order while adjudicating a complaint filed by Harsh Kharbanda, an allottee in the "Colonnade" commercial project at Sector 66, Gurugram, being developed by Emaar MGF Land Ltd., now known as Emaar India Ltd.
New Delhi [India], January 1 (ANI): The Haryana Real Estate Regulatory Authority (HRERA), Gurugram, has passed a balanced and reasoned order while adjudicating a complaint filed by Harsh Kharbanda, an allottee in the "Colonnade" commercial project at Sector 66, Gurugram, being developed by Emaar MGF Land Ltd., now known as Emaar India Ltd.
While examining the dispute under the provisions of the Real Estate (Regulation and Development) Act, 2016, the Authority took note of defaults on both sides.
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HRERA recorded that the promoter had delayed completion of the project and found that the allottee was in substantial default in the timely payment of dues for the commercial unit.
Considering the reciprocal obligations of the parties, timely delivery by the promoter and timely payment by the allottee, the Authority departed from the usual practice of awarding delay compensation until the offer of possession plus two months.
Instead, HRERA limited the entitlement to delay interest to the date of issuance of the occupation certificate, plus an additional two months.
The Authority further directed the promoter to deliver possession of the unit, together with all promised amenities and specifications.
Simultaneously, the allottee was ordered to clear the outstanding dues, together with applicable interest, in full within the prescribed time.
The decision underscores the Authority's emphasis on maintaining fairness and balance between the rights and obligations of both allottees and developers in the real estate sector. The complainant was represented by Advocate Shweta, while Advocate Harshit Batra appeared on behalf of the respondent developer before the Authority. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)