MREAT Adjusts RERA's Directive, Neelkamal Realtors Promoter to Compensate for Flat Delay

The Maharashtra Real Estate Appellate Tribunal (MREAT) has modified a ruling by the Real Estate Regulatory Authority (RERA), impacting Neelkamal Realtors. The promoter of the real estate project is now mandated to provide compensation for delays in delivering flats. This adjustment reflects the evolving dynamics of real estate regulations in Mumbai. Neelkamal Realtors faces financial implications due to project completion delays, a critical concern for homebuyers. The move underscores RERA's commitment to protecting consumer interests and ensuring timely project deliveries in the real estate sector.