E - PAPER

CURRENT MONTH

LAST MONTH

VIEW ALL
  • HOME
  • NEWS ROOM
  • COVER STORY
  • INTERVIEWS
  • DRAWING BOARD
  • PROJECT WATCH
  • SPOTLIGHT
  • BUILDING BLOCKS
  • BRAND SYNC
  • VIDEOS
  • HAPPENINGS
  • E-MAGAZINE
  • EVENTS
search
  1. Home
  2. News/Views

Nahar Group Promoter Moves MahaRERA against Omkar Realtors

Almost a decade ago, Nahar Group’s promoters Manju and Rajesh Yagnik had booked two apartments at a high-end luxury project at Worli and have now moved MahaRERA to seek relief against their peer, Omkar Realtors & Developers
BY Realty Plus
Published - Tuesday, 13 Jul, 2021

Nahar Group Promoter Moves MahaRERA against Omkar Realtors
Almost a decade ago, Nahar Group’s promoters Manju and Rajesh Yagnik had booked two apartments at a high-end luxury project at Worli and have now moved MahaRERA to seek relief against their peer, Omkar Realtors & Developers The Yagniks had booked two apartments on the 47th floor of Omkar 1973’s (at Worli) Tower C for a sum of Rs 50 crore through another individual who later transferred the rights over to Nahar Group’s promoters. Later, in March 2013, Omkar Realtors & Developers issued allotment letters for the two apartments and assurance that it would execute and register the agreements for sale for both the units. The possession of the two flats was promised by December 2016, with a six-month grace period till mid-2017. In May 2017, Omkar Realtors & Developers approached the Yagniks to inform them of its inability to execute the agreements for sale and hand over the possession as per the timeline. The latter accepted the request for a deadline extension and compensation of Rs 7 crore for both units. Hence, the new deadline was rescheduled from June 2017 to April 2020 and a 12 month’s grace period. As per the complaint, till 2020-end, the agreements were still not executed and instead, they were asked to pay Rs 4.10 crore. Almost half a year after the December 2020 order, Omkar Realtors & Developers did not execute the agreements for sale. Hence, once again, Yagniks moved MahaRERA for relief towards execution of the agreements. On Yagniks’ plea, MahaRERA Member Dr Vijay Satbir Singh ordered Worli project’s realtor to execute the agreements, failing which, it shall be liable to pay Rs 25,000 per day as a penalty for non-compliance of its December 2020 order till the date of compliance, that is the execution of the agreements for sale.

RELATED STORY VIEW MORE

Challenging Year for Star HFL: Kalpesh Dave, Director & CEO
MahaRera Turns 8: Registered 50,000 Projects
Unaffected by Weak Stock Market Real Estate Capital Raising Triples

TOP STORY VIEW MORE

HC Relief to WTCA on Trademark Row

WTCA expressed gratification for the High Court of Delhi recognizing that the Bhalla Group of Companies was continuing to infringe on its world-famous brands.

09 May, 2025

Beyond Chatbots: Changing Real Estate Customer Conversations

09 May, 2025

Instant, Legal Access to U.S. Property Equity Market for Indian Investors

09 May, 2025

NEWS LETTER

Subscribe for our news letter


E - PAPER


  • CURRENT MONTH

  • LAST MONTH

Subscribe To Realty+ online




Get connected with us on social networks!
ABOUT REALTY+

Started in 2004, Realty+, an exchange4media group publication is one of the most respected real estate magazines in India with offices in Delhi, Mumbai and Bengaluru.

Useful links

HOME

NEWS ROOM

COVER STORY

INTERVIEWS

DRAWING BOARD

PROJECT WATCH

SPOTLIGHT

BUILDING BLOCKS

BRAND SYNC

VIDEOS

HAPPENINGS

E-MAGAZINE

EVENTS

OTHER LINKS

TERMS AND CONDITIONS

PRIVACY-POLICY

COOKIE-POLICY

GDPR-COMPLIANCE

SITE MAP

REFUND POLICY

Contact

Mediasset Holdings 3'rd Floor, D-40, Sector-2, Noida (Uttar Pradesh), Pincode - 201301

tripti@exchange4media.com
realtyplus@exchange4media.com

+91 98200 10226


Copyright © 2024 Mediasset Holdings.
Rental Mobil bandung,Sewa Mobil Bandung, Rental bandung, Sewa Mobil, Jual Mesin Antrian, Harga Mesin Antrian, Mesin Antrian Murah, Jual KIOSK,Mesin Antri, Berita Terkini, Info Bray,Info Tempat Wisata,Portal Berita,Jasa Website