'Receiving OC wouldn't absolve developer from paying interest'

  • | Friday | 19th April, 2019

Mere receiving an Occupation Certificate wouldn't absolve a developer from paying interest to the home buyer if there's a delay in handing over possession. However, the developer failed to complete the project and hand over possession of the flat till date. The developer filed the reply on record of MahaRERA and disputed the claims of the home buyer. Even though the developer has received the OC in the year 2018, the date of possession written in the agreement for sale is relevant to calculate the period of delay. A building had received the Occupation Certificate, even before the home buyer went ahead with his complaint to the Maharashtra Real Estate Regulatory Authority (MahaRERA) for the delay in possession.

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