In the Matter of Sundeep Anand and Ors. vs. Kul Developers Private Limited and Anr. Complaint no. CC005000000022985 decided on 11.11.2019 before Maharashtra Real Estate Regulatory Authority
Laying down the controversy at rest, MahaRERA held that the provisions of the Act will prevail over the terms of the agreement for sale.
In this case, MahaRERA was to determine whether the allottee would be entitled to get interest as provided under the Act or as per the agreement between the parties. MahaRERA observed that “The Act is a special enactment for protecting the interest of the allottees with a view to complete the project in a specific timeline. There is no phraseology such as ‘unless agreed to the contrary under Section 18’ which allows the terms of the agreement to prevail over the provisions of the Act.” MahaRERA held that interest is to be awarded at the rate as prescribed by the statute for the delayed possession.
