The Maharashtra Real Estate Appellate Tribunal in Mumbai recently resolved a dispute between Vidhya Tambe and M/s Navnath Associates through consent terms. The case centered around the possession of a flat, and the parties informed the court that they had settled the matter and filed the consent terms on record.
Background of the Case
Vidhya Tambe had filed an appeal with the Maharashtra Real Estate Regulatory Authority (MahaRERA) in 2019, seeking possession of a flat in a building developed by M/s Navnath Associates. She had alleged that the developer had failed to hand over possession of the flat despite accepting full payment for it. MahaRERA had directed the developer to hand over possession of the flat to Tambe within a specified time frame, failing which the developer was liable to pay compensation to her.
However, the developer challenged the order before the Maharashtra Real Estate Appellate Tribunal, leading to the present case. During a hearing on April 18, 2023, the parties informed the court that they had settled the matter and filed the consent terms on record.
Terms of the Settlement
Vidhya Tambe confirmed that she had received Rs. 9,00,000/- from the developer and that they had agreed to hand over possession of the flat to her. She admitted to having signed the consent terms. The developer's authorized representative, Mr. Vaibhav Joshi, was unable to attend the hearing due to technical glitches. However, Adv. Ms. Pooja Gaikwad, representing the developer, submitted that the matter may be disposed of in terms of the consent terms as the matter had been amicably settled between the parties.
Disposition of the Appeal
The Maharashtra Real Estate Appellate Tribunal disposed of the appeal in terms of the consent terms, and no costs were awarded. Any pending miscellaneous applications were also disposed of. The court's ruling effectively ended the dispute between the parties.
Implications of the Settlement
The settlement between Vidhya Tambe and M/s Navnath Associates highlights the importance of alternative dispute resolution mechanisms in the real estate sector. Disputes between buyers and developers can often result in lengthy and expensive legal battles, causing significant delays and financial losses for both parties. In this case, the parties were able to reach a mutually acceptable solution through consent terms, thereby avoiding further legal proceedings.
The Maharashtra Real Estate Appellate Tribunal's resolution of the dispute between Vidhya Tambe and M/s Navnath Associates through consent terms is a positive development for the real estate sector in Maharashtra. It demonstrates the efficacy of alternative dispute resolution mechanisms in resolving disputes between buyers and developers. The settlement provides a template for other parties to resolve their disputes in a timely and amicable manner, thereby reducing the burden on the judicial system.
Note: The information provided in this article about Maharashtra Real Estate Regulatory Authority (MahaRERA) is for informational purposes only. It is not intended as legal or professional advice and readers should consult qualified professionals for advice specific to their circumstances.
By subscribing to AryaBot, you can receive updates on all RERA-approved projects in your desired area directly on your WhatsApp. AryaBot offers a free list of new RERA-approved real estate developments, so you can stay up-to-date on the latest developments in the area.
Know more about AryaBot at ReunionHQ
Explore the list of new RERA approved projects in Maharashtra.