mumbai maharashtra real estate appellate tribunal has directed runwal constructions to pay 1005 interest to flatbuyers from february 2014 after it failed to complete a project in the promised period the interest on amount paid will continue till the builder hands over possession it also directed the builder to complete the project in 18 months the november 1 order has been stayed till december 5 for the builder to appeal in bombay high courtrunwal had in 2005 taken up redevelopment of an industrial area into a residential complex runwal infinity at nahur mulund runwal was to construct five buildings twentyone buyers entered into agreements paid rs 2030 lakh in 200607 and the flats were to be handed over in 200809 the builder failed to keep its commitment saying the hc had ordered a stay on the project due to nonclearance from bmc the builder had moved the hc after bmc issued a notice to stop work in 2006 saying the land fell under private forest land the hc passed an interim order permitting runwal to commence or continue construction subject to the writ petitions outcome the builder obtained environmental clearance and subsequently the hc dismissed the petition runwal filed a special leave petition challenging the hc order the sc quashed the hc order in 2008 and allowed it to carry on work subject to the ministry of environment and forest decision the buyers moved maharashtra housing regulatory authority maharera which fined the builder rs 10 lakh but united mulund residents welfare association moved the tribunal for relief as the builder had not complied with requirements under rera tribunal president k u chandiwal passed the order pertaining to 13 matters and kept the remaining pending the tribunal said the rera chairperson erred in not appreciating that the hc restriction was only on one building for a limited area the authority erred in concluding the delay in handing over possession cannot be ascertained