By Legal Cell
Maharashtra Real Estate Appellate Tribunal (MREAT) in its landmark judgement have observed that deemed possession date can be taken into consideration for determining delay interest on the basis of the Agreement for Sale executed by the promoter on the same floor / project.
The MREAT observed : “.…. Apart from this, the promoters have executed agreement for sale with another allottee of the same floor, wherein the promoters have agreed to handover possession of the said premises to the said allottee by December 2015. Therefore, it can be reasonably inferred that promoters were supposed to handover the possession of office units by December 2015.”
Besides this, the Hon’ble MREAT again ruled out that allottees are investors. In the instant case, the allottee gave substantial funds and got an allotment letter without possession date in 2013. MREAT have maintained the ruling of “Fortune Infrastructure” ruling by Hon’ble Supreme Court.
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