Three individual flat owners, Rohit Kaushal (B-401), Shrikant Pradhan (1902), and Tan wir Bagwan (1802), had lodged separate complaints against Marvel Realtors under Section 18 of the Real Estate (Regulation and Development) Act, 2016.
Acting on three complaints against a leading Pune-based developer, the Maharashtra Real Estate Regulatory Authority (MahaRera) has ordered Marvel Realtors to pay up a monthly rent of Rs 15,000 to owners of 3-BHK flats in the Marvel Brisa project in Balewadi if the company does not complete one of the two 18-storey towers by March 2018. Marvel Brisa, a luxury housing project, has 110 2-BHK, 3-BHK and 3.5-BHK apartments and penthouses in Buildings A and B. The housing project is located at a prime location --it is close to the software hub of Hinjewadi and the Mumbai-Pune Expressway. The project is located 2 km from the Expressway and 3 km from Hinjewadi.
In the consent terms mutually agreed upon by the developer and the flat owners and filed before the adjudicating officer, the developer agreed to complete Building B by March 31, 2018, and thereafter apply for an Occupancy Certificate. If the developer fails to complete the building by that deadline, he will have to pay a rent of Rs 15,000 per month for each of the 3BHK flats.
The developer also agreed that at the time of conveyance of the Marvel Brisa Society project, he will deposit a sum of Rs 1crore in the society account. Apart from the flat owners, the conveyance of the common areas rests with the society. This is the first time MahaRera has asked the developer to pay rent to home buyers if the project is not completed by the given deadline.
Marvel Brisa is among 22 different ongoing residential luxury projects Marvel has undertaken in Pune. The developer also has three commercial projects, including the 10-storey Marvel Edge in Viman Nagar, seven-storey Marvel Fuego at Magarpatta Road (with office space and shops), and Marvel Sangria Boulevard, a pedestrian shopping plaza on NIBM Road, according to the developer\'s website.
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