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MahaRERA Asks Builder Not to Differentiate Between Buyer & Investor

MahaRERA
The ruling is expected to set a precedent for all such matters arising from the refusal of developers to acknowledge the rights of investors as homebuyers that are pending before consumer forums, other state RERA authorities and courts.

In a landmark ruling, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has refused to differentiate between an investor in a housing project and a homebuyer and has directed a developer to honour contractual obligations. The ruling is expected to set a precedent for all such matters arising from the refusal of developers to acknowledge the rights of investors as homebuyers that are pending before consumer forums, other state RERA authorities and courts.

In this case, Kamal Agrawal and Babita Agrawal approached the Maharashtra Real Estate Regulatory Authority against realty developer Sakla Enterprises. They asked the regulator to direct the builder to execute the registered agreement for sale with them and to hand over possession too. The Agrawal family had booked five apartments in the developer’s project Sagar Complex in Boisar near Mumbai, paying Rs 15 lakh for each flat.

According to the regulator, the complainants had invested their money in the project and therefore their rights needed to be protected and the developer is expected to abide by the contract.

According to the family, they paid the entire consideration for these apartments and were issued five separate allotment letters on October 9, 2017. These allotment letters were duly signed by the developer and notarised.

As per the allotment letters, the developer agreed to hand over possession within two years, with the stipulation that the apartments would be bought back if they were not delivered on time.

See also Transfer of Property Act, 1882

However, the developer disputed the claims of the complainants and alleged that they were not allottees but investors. According to the developer, the complainants had approached the developer for investment purposes and they were given blank allotment letters as security.

The developer said the complainants were earning returns from the funds they had invested, as revealed by the allotment letter. And termed them investors and not allottees or end-users.

Section 13 of RERA –

Vijay Satbir Singh, a member of MahaRERA that a promoter cannot accept more than 10% of the apartment price from allottees without first registering the sale agreements with the allottees.

Singh stated that the promoter should not have accepted the money from the complainants without first registering the agreements for sale with the complainants.

MahaRERA told the developer it cannot deny the claims of the complainants merely by saying they were investors and not allottees since the complainants had invested their money in the registered project.

The regulator directed the developer to execute a registered agreement for sale in accordance with the allotment letters-cum-agreements dated October 9, 2017, failing which the money paid by the complainants needs to be refunded.

See also Impact of GST on Home Buyers & Real Estate

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Knowledge About Mumbai Metro Corridors

mumbai metro train route

In a major move to improve the transport network in Mumbai, the Maharashtra government has announced a number of metro lines in the city linking major industrial and commercial hubs in and around the metropolis. While the Mumbai Metropolitan Region Development Authority (MMRDA), the nodal agency for the development of the Mumbai metro train route network in the megapolis, had finalized the construction plan of a 24-km Thane-Bhiwandi-Kalyan Metro-5 corridor and 14.5-km Swami Samarth Nagar-Jogeshwari-Kanjurmarg-Vikhroli Metro-6 corridor, mumbai metro train route Line 10, 11, 12 are also under construction. 

Moreover, Mumbai Metro 2A line construction work is also finished. Here is all you need to know about Mumbai Metro connectivity. 

Mumbai Metro Line 2

Mumbai Metro Line 2 is a 42-km stretch and will have two sub-sections – 2A and 2B. The 2A section will be an 18-km corridor between Dahisar-Charkop-DN Nagar and will have 17 stations.

The 2B section is between DN Nagar-BKC-Mankhurd and will cover a route of 23.5 kms. The estimated cost for this project is around Rs 17,000 crores. It will be funded by the state and central governments, along with loans from the Asian Development Bank and the World Bank.

The route will have six-coach driver-less trains, which will be big enough to carry 1,800 commuters. The daily ridership is expected to touch eight lakhs within a year. While the work on the last phase is now finished, the trial runs on Line 2A was supposed to start in January 2021 but as per Mumbai Metro officials.

Due to the lockdown and lack of manpower, there will be a delay in completing the construction works, conducting trials, as well as operations, which were expected to start in May 2021. The authority is yet to announce the new deadline.

Stations on Line 2AStations on Line 2B
DahisarESIC Nagar
Anand NagarPrem Nagar
Rushi SankulIndira Nagar
IC ColonyNanavati Hospital
EksarKhira Nagar
Don BoscoSaraswat Nagar
ShimpoliNational College
Mahavir NagarBandra Metro
Kamraj NagarITO BKC
CharkopIL&FS, BKC
Malad MetroMTNL, BKC
Kasturi ParkSG Barve Marg
Bangur NagarKurla East
Goregaon MetroEastern Express Highway
Adarsh NagarChembur
Shastri NagarDiamond Garden
DN NagarShivaji Chowk
BSNL
Mankhurd
Mandala

Mumbai Metro Line 5

The 24-km-long and Rs 8,416-crore Thane-Bhiwandi-Kalyan Metro-5 corridor, will be completely elevated and have 17 stations.

The project is expected to be completed within 41 months (by 2021) and the frequency of metro trains on the route will be one train every five minutes, the release said. Each train running on the corridor, is expected to clock daily ridership of around 2.29 lakhs by 2021.

The initial minimum fare on the route will be Rs 10 and maximum Rs 50. The project will be implemented by the MMRDA. The Metro-5 corridor will eventually connect with the Metro-4 line of Wadala-Thane-Kasarwadavli and Metro-11 corridor between Taloja and Kalyan.

The 17 proposed stations on this corridor are-

Kalyan APMC
Kalyan station
Sahajanand Chowk
Durgadi Fort
Kon Gaon
Gove Gaon MIDC
Rajnouli village
Temghar
Gopal Nagar
Bhiwandi
Dhamankar Naka
Anjur Phata
Purna
Kalher
Kasheli
Balkumbh Naka

Mumbai Metro Line 6

The sixth metro line, which will link the western suburbs with their eastern counterparts, will be the second west-east metro corridor, after the already operational Versova-Andheri-Ghatkopar section, it added.

The 14.5-km-long Metro-6 corridor, is expected to cost Rs 6,672 crore and will have 13 stations. These stations are: 

Swami Samarth Nagar
Adarsh Nagar
Momin Nagar
JVLR
Shyam Nagar
Maha Kali Caves
SEEPZ village
Saki Vihar Road
Ram Baug
Powai Lake
IIT Powai
Kanjurmarg West
Vikhroli

The much needed west-east corridor will link the hitherto not connected areas like JVLR, SEEPZ, Saki Vihar Road, Powai Lake, IIT Powai and Kanjurmarg. Besides this, the Metro-6 corridor will connect SV Road, Western Express Highway, Jogeshwari-Vikhroli Link Road, LBS Marg and Eastern Express Highway.

The Metro-6 corridor earlier was planned to link Jogeshwari-Vikhroli to Kanjurmarg. However, it was extended in the west to Swami Samarth Nagar, linking Metro-2 corridor and the entire western suburbs.

The 18.6-km Metro 2-A route is between Dahisar east and DN Nagar in Andheri east. By linking this corridor with Metro-6, the entire corridor length becomes 33 kms. The route will have its car depot at Kanjurmarg.

Out of the total Rs 6,716 crores project cost for Metro-6, MMRDA’s share is Rs 3,195 crores and the state government will contribute Rs 1,820 crores. The remaining, Rs 1,700 crores, will be a loan component.

The Metro-6 corridor will be linked with the Western and Central Railways’ suburban network, Metro 2-A (Dahisar-DN Nagar), Metro-7 (Dahisar-Andheri), Metro-4 (Wadala-Thane-Kasarwadavli) and Metro-3 (Colaba-Bandra-SEEPZ) corridors, thus, creating the longest metro corridor in the Mumbai Metropolitan Region (MMR). The initial minimum fare on the Metro 6 route will be Rs 10 and maximum at Rs 30.

See Also Impact of GST on Home Buyers & Real Estate

Mumbai Metro Line 7

Mumbai metro train route 7 is a 33.5-km-long section that will connect Dahisar with Andheri and further to the Mumbai International Airport. The route will have 29 stations, out of which 14 will be elevated and the remaining will be underground.

At present, only 16 stations have been approved. The construction was started in August 2016 at an expense of Rs 6,208 crores and operations were expected to start in mid-2020. However, due to the Coronavirus pandemic and the subsequent lockdown, the project is not yet complete. The Asian Development Bank is providing partial funding  for the project.

Dahisar EastVitt Bhatti Junction
Shrinath NagarAarey Road Junction
Borivali OmkareshwarV Nagar
Magathane Bus Depot (Borivali)Hub Mall
Thakur ComplexMahanand Bombay Exhibition
Mahindra &Mahindra JVLR Junction
BandongriShankarwadi
Kurar VillageAndheri East

Mumbai Metro Line 9

As per the proposal, Metro-9 will be integrated with Metro-7 (Dahisar to Andheri) and Metro-2A (Dahisar to DN Road) along with the proposed Rs 3,600-crore Gaimukh-Shivaji Chowk (Mira Road or Metro-10). The tendering process to appoint general consultants and contractors for civil works for Metro-9 is in progress and is expected to commence from March 2019. Currently, the north-western suburbs of Mira-Bhayander are connected to Mumbai via the suburban railway line.

At present, work on several metro corridors is underway across the megapolis, including the Dahisar-DN Nagar (Metro-2A), DN Nagar-Mankhurd (Metro-2B), Andheri east-Dahisar (Metro-7), Colaba-Bandra-Seepz (Metro-3), the elevated Wadala-Kasarvadavali (Metro 4) and the Swami Samarth Nagar-Jogeshwari-Vikhroli (Metro-6).

Mumbai Metro Line 10, 11, 12

Prime minister Narendra Modi, had laid the foundation stones for three Metro Lines – 10, 11, and 12 in September 2019, that will serve the city and also the MMR.

While the 9.2-km long Gaimukh to Shivaji Chowk (Mira Road) Metro-10 corridor and 20.7-km long Kalyan to Taloja Metro-12 corridor will serve the region; the 12.8-km long Wadala to Chhatrapati Shivaji Maharaj Terminus Metro-11 corridor, will be for commuters travelling to South Mumbai from the central suburb Wadala.

It can be noted that the financial capital is catching up with the national capital after decades, in modern public transport and is pumping in over Rs 1.2 lakh crores to build 14 metro corridors stretching 337-km over the next decade.

Mumbai Metro Latest News 

mumbai metro train route 5: Villagers oppose MMRDA move to acquire their land

The Thane-Bhiwandi-Kalyan Metro Line 5 project may hit a roadblock, as over 100 families have opposed the proposal to construct a car-shed on their land at Govegaon, near the Kalyan-Bhiwandi Road in Maharashtra. The villagers said they did not want to lose their land to make way for a car-shed, as it was their only source of livelihood.

“The Mumbai Metropolitan Region Development Authority (MMRDA) wants to acquire around 36 hectares of our land in Govegaon, for a metro car-shed. The move will affect as many as 100 families,” secretary of Kon-Gove Sangharh Samiti, Pandharinath Bhoir, said, in a press conference, on October 11, 2019. “We’re not against the metro project. We just want the MMRDA to use government land, instead.

We aren’t ready to give our land, as we will lose our livelihood,” said Bhoir, adding that the compensation offered by the development authority was less than the market value. Neeta Mahajan, a lawyer, who represents the committee, said, “The villagers have their houses, shops and small-scale workshops on this land.”

The MMRDA had, in 2018, sent notices to the residents, stating that it wanted to acquire the land for the car-shed. The Metro Line 5 is likely to benefit over 2.9 lakh people, as it will cut the travel time between Thane and Kalyan.

See Also Industry Pins Recovery Hopes on COVID-19 Vaccine, Government Measures : Real estate in 2021