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No interest; be happy with principal amount
Updated On: 26 May, 2019 07:06 AM IST | Mumbai | Vinod Kumar Menon
MahaRERA order leaves flat owners in a Dadar apartment complex, Island City Center, in a flux

Island City Center in Dadar (E) has been plagued with problems with its flat buyers over not fulfilling its promises. Pic/Bipin Kokate
A recent order by MahaRERA chief Gautam Chatterjee has put seven flat owners in Dadar's Island City Center on the losing side as it directs the developer to refund the money originally deposited by the flat buyers, without paying interest.
Ramesh Prabhu, Housing and MahaRERA consultant, who appeared for five out of the seven complainants, says, "My clients had booked the apartments by paying 20 per cent of the flat cost (approximately Rs 1.80 cr) in 2013-2014 via allotment letters. They allege that the developer made false assurances regarding the amenities and even made changes to the carpet area and overall layout of the project. Therefore, the aggrieved flat buyers approached MahaRERA seeking justice, but the order passed by the chief is vague and lacks clarity."
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