MahaREAT Criticizes MahaRERA's Casual Approach, Directs Spenta Builders to Pay Interest from Default Date Until Possession Handed Over

The Maharashtra Real Estate Appellate Tribunal (MAHAREAT) has criticized the Maharashtra Real Estate Regulatory Authority (Maharera) for its casual approach in handling cases related to real estate developers. The tribunal directed Spenta Builders to pay interest to homebuyers from the default date until possession is handed over. This ruling underscores the tribunal’s emphasis on holding builders accountable for delays and ensuring that buyers are compensated fairly for their inconvenience and financial loss. It reflects a growing trend towards more stringent enforcement of real estate regulations to protect consumer rights.