The MahaRERA Appellate Tribunal, in an order passed on April 1, 2025, has ruled in favor of homebuyers in a dispute against a developer, directing the developer to refund the outstanding payment with interest and rejecting the developer’s demand for cancellation charges.
The case involved an appeal filed by Rani Manohar Nagpal, Manohar Lalchand Nagpal, and Isha Manish Shahani (Appellants) against Mayuresh Jayprakash Raut @Shree Mahalaxmi Reality, Green City (Respondent). The dispute arose from a real estate transaction where the Appellants had booked shops in the Respondent’s “Green City – Marigold” project.
The Appellants had initially filed a complaint with the Maharashtra Real Estate Regulatory Authority (MahaRERA) seeking a refund of payments made to the developer. While MahaRERA ruled in their favor, the Appellants then appealed to the Tribunal to pursue additional relief, including interest and compensation.
The Tribunal’s order directed the developer to refund the balance amount of ₹25,000, along with interest calculated at the rate of the highest Marginal Cost of Lending Rate (MCLR) of SBI plus 2%, as per the provisions of the Real Estate (Regulation and Development) Act, 2016. Importantly, the Tribunal explicitly denied the developer’s entitlement to impose any cancellation charges.
This decision underscores the RERA Act’s role in safeguarding homebuyers’ rights and promoting accountability and transparency within the real estate sector.
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