Darode Jog faces penalty for delayed possession of Padmanabh at Moshi

Maharashtra Real Estate Regulatory Authority (MahaRERA) issues order against Darode Jog Homes

Mr. Anand Jog & Mr. Sudhir Darode of Darode-Jog Properties at the press conference of Padmanabh at Moshi

1) Darode Jog has to pay Rs 17,44,291 to Pravin Hiwale and Rs 23,03,630 to Anand Mutha with interests - marginal costs of funds based lending rate of SBI at 8.15% plus 2% with effect from May 1.

2) Darode Jog has to pay compensation to the complainants at 9% from the date of respective payments till April 30, 2017.

3) Darode Jog has to pay the complainants Rs 20,000 towards the cost of lodging the complaints.

The order states that Hiwale had signed the sale agreement with the developer on October 10, 2014.

The developer had agreed to deliver the possession of Flat no B2-808 on or before December 2016 or within two-and-a-half years from the date of agreement, whichever is later.

In the case of Mutha, the sale agreement was done on November 28, 2014.

Hiwale was supposed to get possession of the in April and Mutha in May - 2016.

The developer, while registering the project with MahaRERA, mentioned the date of completion as December 31, 2018.

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