Avikshit Moral

Partner, Mumbai
Avikshit Moral
Contact

Tel : +91 22 4302 8000
Fax : +91 22 4302 8001
Email : avikshit@snrlaw.in

Practice Areas

Real Estate

Prior Work Experience

IndusLaw in Mumbai
Juris Corp in Mumbai
India Law Alliance in Mumbai

Representative Experience

For a list of select transactions, please contact the individual lawyer

Education

University of Mumbai, (LL.B., 2008)

Bar Admissions

India, 2008

Publications

Clarification on Exemption from Project Registration and Interpretation of Commencement and Completion Certificate

Maharashtra Real Estate Regulatory Authority (“MahaRERA”) earlier had already issued clarification regarding projects which are exempted from getting registered under the Real Estate (Regulation and Development) Act, 2016 and what denotes a commencement certificate and completion certificate in plotted real estate projects vide circulars and orders. However, there was still some ambiguity regarding interpretation of these issues. Therefore, in order to ensure ease of reference and harmonious construction as well as to cure the anomaly, MahaRERA decided that these issues covered under various circulars/orders be merged and incorporated in a consolidated order and hence issued the present order i.e. Order No.62/2024.

Forfeiture of Advance Payments by Developers

Section 19(6) of The Real Estate (Regulation and Development) Act 2016 (“Act/RERA”) casts an obligation on an allottee to make timely payment of instalments as per the payment schedule mentioned in the registered agreement for sale. What happens when an allottee fails to comply with this obligation?
This note scrutinizes the order passed by Maharashtra Real Estate Appellate Tribunal and talks about the remedies available to a developer in case an allottee defaults in making timely payment of the sale consideration. It also analyzes the position pre and post RERA regime and dives into the concept of earnest money and liquidated damages in terms of the agreement for sale.