MahaRERA Grants Interest for Delayed Possession in Thane’s Sheth Zuri Project

MahaRERA has made a decision about a housing project called Sheth Zuri in Thane.

Some homebuyers complained about delays in getting their homes.

MahaRERA said that the developer should pay interest to these buyers for the delay, but only after the developer gets a special certificate (Occupancy Certificate) that says the project is complete.

The interest will be calculated based on the money the buyers have already paid.

If there are any other amounts owed, they can be adjusted against this interest.

Buyers who canceled their bookings before the agreement was signed will only get their money back, not interest.

The developer said the delays were because of things like the COVID-19 pandemic and other problems, but MahaRERA said the developer is responsible for managing these issues.

Some parts of the project are already done, but others are still under construction.

Some buyers also complained about missing amenities and other problems with their homes.