Developer to pay EMIs till possession, rules UPRERA forum
Developer to pay EMIs till possession, rules UPRERA forum
Ramesh Kumar
Developer to pay EMIs till possession, rules UPRERA forum
Photo: CitySpidey

Developer to pay EMIs till possession, rules UPRERA forum

In a major relief to a homebuyer, who has been simultaneously paying rent and equated monthly instalment (EMI) against loan borrowed for buying a home in Greater Noida West, the conciliation forum of Uttar Pradesh Real Estate Regulatory Authority (RERA) ordered a private developer to repay the instalments until possession is given to home the buyer. 

The decision was taken during the 13th meeting of the conciliation forum, which was held on Monday. The meeting, chaired by R D Paliwal, conciliator with RERA, was attended by representatives of the consumer forum, Abhishek Kumar, Sumit Saxena and Shweta Bharti.

The conciliation forum passed the order against Ajnara India Limit, the realty company in the complaint of Pravesh Kumar, who booked flat at Ajnara Homes, a high rise in Greater Noida West, the possession of which had been delayed. 

After looking into the complaint, the forum told the developer that he (the complainant) should be given possession of the home by 30 December 2019 and till then the developer should pay the EMI to the bank. A similar order was given to Ajnara Realtech Ltd in the case of Sumit Garg.  

The forum had received a total 15 complaints from homebuyers with different realty companies developing group housing projects in Noida, Greater Noida West and Yamuna Expressway. Of these, the forum rejected three complaints as these were sub judice before either the RERA or the Supreme Court. The forum also told several developers to pay penalty to homebuyers as per BBA agreement where possession of flats was delayed by developers.

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