₹3 lakh penalty imposed on builder
The Hindu
The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has levied a penalty of ₹3 lakh on Ozone Projects Pvt. Ltd. for collecting more than 10% of the cost of the apartment from a homebuyer without
The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has levied a penalty of ₹3 lakh on Ozone Projects Pvt. Ltd. for collecting more than 10% of the cost of the apartment from a homebuyer without first entering into a written sale agreement.
The order came in a case filed by Priti Jaiswal, who had booked an apartment in the developer’s Metrozone Project, for which the sale and construction agreements were signed on January 18, 2020.
TNRERA noted that the complainant also stated that there was a delay of 46 days from the date of payment to the date of execution of sales agreement.
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