Real Estate Developers and Buyers Settle Dispute, Appeals Dismissed by Mumbai Tribunal

In a recent development in the real estate sector, two appeals filed by home buyers against a developer were dismissed by the Maharashtra Real Estate Appellate Tribunal. The appeals were filed by Mr. Saurabh Kesarwani and another buyer against Sheth Infraworld Pvt. Ltd. The case number for the appeal filed by Mr. Kesarwani is AT006000000010437, while the other appeal's case number is AT006000000052594.

Background of the Dispute

The dispute arose between the developer and the buyers over the possession of a flat. The buyers had booked the flat in a project developed by the developer, but there were delays in the project's completion. The buyers claimed that the developer did not hand over possession of the flat as per the agreed-upon terms and demanded compensation for the delay. On the other hand, the developer maintained that the delays were due to circumstances beyond their control, and they had already fulfilled their obligations as per the agreement for sale.

Joint Purshis filed by the Parties

During the proceedings before the Maharashtra Real Estate Appellate Tribunal, the parties filed a joint purshis, stating that they had amicably settled the matter between them. As per the joint purshis, the developer had received the balance consideration from the buyers, and in return, the developer handed over possession of the flat to the buyers. The parties had fulfilled their obligations as per the agreement for sale, and there was mutual satisfaction between them.

Dismissal of Appeals

As a result of the joint purshis, both appeals filed by the buyers were dismissed by the Maharashtra Real Estate Appellate Tribunal. The buyers had submitted that they would file an application for withdrawing the appeal unconditionally, and pursuant to their submissions, the joint purshis was filed. The presence of the buyers for withdrawing appeals stood dispensed with, and the tribunal allowed the prayer made in the joint purshis.

Implications for the Real Estate Sector

The dismissal of the appeals by the Maharashtra Real Estate Appellate Tribunal is significant for the real estate sector as it reflects the importance of out-of-court settlements in resolving disputes between developers and buyers. With the Real Estate (Regulation and Development) Act, 2016, in place, developers are required to comply with strict timelines for project completion and delivery of possession to buyers. However, delays in project completion can still occur due to unforeseen circumstances, leading to disputes between developers and buyers. In such cases, it is important for the parties to explore the possibility of an amicable settlement rather than prolonging the legal process.

Conclusion

The dismissal of the appeals filed by the buyers against the developer by the Maharashtra Real Estate Appellate Tribunal highlights the significance of out-of-court settlements in resolving disputes between developers and buyers in the real estate sector. The joint purshis filed by the parties indicates that they were able to find a mutually satisfactory solution to their dispute, which is a positive development for the real estate sector. The Real Estate (Regulation and Development) Act, 2016, provides a framework for ensuring timely completion of projects and protecting the interests of buyers. However, in cases of disputes, it is essential for the parties to explore the possibility of an amicable settlement, rather than resorting to lengthy legal proceedings.

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.

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