Promoter Adjusts Delay Interest in Maintenance Advance to Resolve Dispute

Lucknow / Gautam Buddh Nagar: U.P. RERA Conciliation Forum ensured that an allottee of the project of promoter ‘M/s Hebe Infrastructure Pvt. Ltd.’ got the interest for delay in possession as 1 year advance maintenance of the unit and resolved the dispute going on for years by mutual consent. As per the agreement reached between both the parties before RERA Conciliation Forum, the promoter proposed to give the benefit of approximately 1 year advance maintenance to the allottee as delayed period interest, which was accepted by the allottee.

According to the allottee, he had booked a unit in Mahagun Mantra-2, a project located in Gautam Budh Nagar, possession of which was to be obtained by December 2017. As per the agreement for sale, 100% amount had been paid by the allottee for the unit costing around Rs 23.77 lakh. The allottee filed a complaint with RERA in February 2022 and demanded possession along with interest for the delayed period.

The promoter had proposed to the allottee to take possession in June 2022. But the allottee took possession of the unit in July 2023, which was confirmed by the allottee. After this, the allottee demanded interest for the delayed period. On this, the promoter informed about the issue of lack of funds and requested to resolve the dispute.

The RERA Conciliation Forum advised both the parties to reconsider their demands and proposal and resolve the dispute unanimously. In this process, the allottee agreed to the promoter’s proposal to pay the delayed interest as advance maintenance for the next 1 year of the unit. After this, both the parties settled the dispute before the RERA Conciliation Forum.

Sanjay Bhoosreddy- U.P. RERA, Chairman stated that in the RERA Conciliation Forum, the promoter and the allottee can resolve the dispute by mutual consent because here, an attempt is made to resolve the dispute by mutual consent with the mediation of the conciliator as well as the promoter and the association of allottees.

x