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MahaRERA strikes down builder’s unilateral cancellation clause, orders interest for delayed possession in Pune project
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The Indian Express
The RERA order said that such provisions violate safeguards available under the Real Estate (Regulation and Development) Act (RERA).
In a significant ruling, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has declared illegal a contractual clause that allowed a builder to unilaterally cancel a flat allotment through a Power of Attorney.
The RERA order said that such provisions violate safeguards available under the Real Estate (Regulation and Development) Act (RERA).
When contacted, the developer said they will appeal against the order.
“’We have two months’ time to appeal and we will be appealing against the order,” the developer said.