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Mumbai: Builder penalized for not handing possession of flats

The Maharashtra State Consumer Disputes Redressal Forum ordered the builder who had proposed the development of Paranjape Nagar to pay a total amount of Rs 1.97 Cr. to complaints as compensation.


In this case, as many as 82 people had invested between Rs 50,000 to Rs 3 lakh each for property purposes. Paranjape Construction Company was not able to start construction on account of not getting any approvals from authorities.


The builder failed to grant possession or return the money. As per the decision taken in this case, the builder has to pay back the money with an additional interest as part of the compensation.


Favista’s view: It is always a good idea to invest in property projects which are attributed to reputed builders such as DLF, Orris Infra Private Ltd., Indiabulls, etc. who start construction of their projects on time and also do not delay matters of possession of property.

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