The Maharashtra Real Estate Regulatory Authority (MahaRERA) Appellate Tribunal has imposed restrictions on the sale of flats within 'THE NEST,' a luxury residential project in Mumbai's Andheri West, jointly developed by the Sai Group and the Wadhwa Group. This decision follows a decade-long delay and numerous complaints from homebuyers. The tribunal's actions came in response to the plight of Vijay Choksi, a buyer who had paid in full but had not received his property. The tribunal's injunction halts flat sales. Legal proceedings are ongoing. The case highlights challenges and conflicts in the real estate sector concerning property delivery and consumer rights.
The MahaRERA Appellate Tribunal has recently taken significant measures to address the prolonged delay and complexities surrounding 'THE NEST,' a high-end residential project located in Mumbai's Andheri West. The illustrious Sai Group and the Wadhwa Group have embarked on this ambitious real estate project together. Amidst mounting complaints and frustrations from homebuyers who have waited anxiously for over a decade for the completion of their dream homes, the tribunal's actions come as a much-needed intervention.
At the forefront of these efforts is Vijay Choksi, a 68-year-old investor who has put his faith and finances into this project. Despite purchasing a 2,358-square-foot carpet apartment within the residential development, Choksi was inexplicably denied possession of his flat. Even more perplexingly, he had dutifully paid the entire cost of the property. Frustrated and determined to find a solution, Choksi took his grievances to the tribunal, thus setting in motion a chain of events that have since reshaped the project's trajectory.
The tribunal, presided over by a respected coram consisting of Judge Shriram Jagtap and MahaRERA's Dr. K Shivaji, carefully examined the merits of Choksi's case. Upon a meticulous evaluation, it was deemed that the Sai Group and Wadhwa Group, acting as the developers, had deliberately contravened the directives issued by MahaRERA. This deliberate non-compliance cannot be allowed to persist unchecked. In response to these compelling arguments, the tribunal issued a legal injunction that would temporarily halt the sale of flats within the 'THE NEST' project located in Andheri West.
What adds a layer of intrigue and complexity to this situation is the project's history. Initially slated for completion in March 2019, the developers have consistently fallen short of the established deadlines. For Choksi, this means a continued state of limbo that began in 2015. His quest for clarity and the delivery of the promised property remained unanswered and unfulfilled. The developers have left him, along with many others, in a state of frustration and financial loss. This has been a protracted ordeal that Choksi, along with other aggrieved buyers, now hopes to see resolved in their favour.
In response to the tribunal's actions, a spokesperson for the Wadhwa Group has offered a perspective from the developer's side. They explained that a joint venture partner was responsible for selling the apartments from its allocated share. Furthermore, they emphasized that no funds from the allottees had been received, implying that this dispute could be more complex than initially apparent. Consequently, the matter is currently a subject of legal proceedings in the High Court, rendering it inappropriate to comment on the decisions and merits of the appellate tribunal.
To navigate these intricacies, advocates Abir Patel, representing Wadia Ghandy & Co., and Avinash Undare have stood as legal representatives for the developers. Their involvement underscores the legal complexities that underlie the situation. The tribunal's injunction and the ongoing legal proceedings present a unique case study of the challenges and conflicts that can arise in the real estate sector, particularly concerning property delivery and consumer rights.
This story was earlier published by Indian Express
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