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Maharera Orders Tanvi Eminence To Finish Project by December 2019

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The mandate was issued in less than a month of the court order with a familiar settlement for 190 home buyers represented by a welfare association who had invested in Tanvi Eminence Phase I and II.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has come to the rescue of 30 more home buyers of the stalled project Tanvi Eminence in Mira Road and instructed the developers to give the home owners possession of the flats on or before December 31, 2019.

The mandate was issued in less than a month of the court order with a familiar settlement for 190 home buyers represented by a welfare association who had invested in Tanvi Eminence Phase I and II. The real estate project was stalled ever since there was news of differences between the four promoters back in 2013. Gautam Chatterjee, MahaRERA chairperson directed the promoters of Tanvi Eminence to complete the project by engaging in discussions with both the promoters and the welfare association members. Based on the agreement of both the parties a milestone order was passed last month.

The order states that the developers are required to give possession of the flats to the buyers including the Occupancy Certificate on or before 31st December, 2019 with a three-month grace period. In case of any further delay the builder will be liable to pay interest on the investment made by the home buyers.

According to the order the home buyers will be entitled to the flats in the same price mentioned and agreed upon in the registered sale agreements or the allotment letter given by the developer, excluding any additional charges introduced by the government or the local bodies from time to time. However, the demand for compensation on investments made back in 2012-13 by the buyers on the project were not granted.

Nilesh Thakkar, one of the 30 complainants who invested in Tanvi Eminence in 2012 said, “We are satisfied with the consent terms. The developer has mentioned that there will be no reduction in amenities promised to us and we will be charged Rs 4 lakh for car parking as promised earlier. The developer says construction has already begun”.

Also Read: Tanvi Group Fail To Deliver Homes And Declares Bankruptcy

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