Various state and national housing forums including the State Housing Federation have appreciated the recent Bombay High Court order which allowed the flat buyer to claim interest on the delay even after the buyer has taken possession. mid-day in its report ‘Now, flat buyers can claim interest for delay even after possession’ (April 5), had highlighted how HC upheld the order (Park Xpress JV versus Sagar H Saboo) of MahaRERA dated March 22, 2024, which had ordered a promoter to pay interest to the flat buyer on account of delay.

Framing guidelines

“The Maharashtra State Co-op Housing Federation has decided to frame guidelines which are necessary to be followed at the time of handing over of the possession from the promoter to the flat purchaser after the building is completed. The real estate sector is experiencing a drastic change when it comes to amenities and completion. The promoters have to align themselves to the said change and prove their transparency and fair play in the business of the real estate sector,” said advocate Shreeprasad Parab, expert director, the State Housing Federation.