Home Urban Infrastructure News Realty News TNRERA directs Chennai’s Marg Properties to pay compensation to buyers

    TNRERA directs Chennai’s Marg Properties to pay compensation to buyers

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    TNRERA

    The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has directed a city-based developer to provide compensation to 19 homebuyers and return the advance payment made within two months for nondelivery of apartment units.

    In a recent order, G Saravanan, adjudicating officer of TNRERA said the 19 complainants had booked flats for Marg Brindavan project, developed by Chennai based Marg PropertiesLimited at Pondur village in Sriperumpudur taluk in Kancheepuram district.

    The flats were not handed over the flats. “The contention of the respondent (developer) that the delay was beyond their control is not acceptable,” the order said.

    The complainants were entitled to get the compensation including amount paid with 8.7% interest, 9% compensation for inconvenience, ₹20,000 for legal expenses.

    Info- https://realty.economictimes.indiatimes.com/

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