Browsing Tag

flat booking refund

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MahaRERA orders new developer to hand over flat and pay interest despite claiming it never received payment, holding both builders jointly liable in Mumbai Evergreen Woods case.

Booked a Flat but Didn’t Sign Agreement? MahaRERA Says Builder Can’t Keep Your Money

MahaRERA has ruled that builders cannot forfeit the entire booking amount if a homebuyer cancels before signing an agreement for sale. Allowing only a 2% deduction, the Authority reinforced consumer protection principles under RERA.
The Supreme Court has ruled that earnest money cannot be forfeited when both the buyer and seller are at fault, offering vital clarity on homebuyer rights and equitable remedies in real estate disputes.

How Much Money Can a Builder Forfeit If a Homebuyer Cancels a Deal?

MahaRERA’s 2022 order limits how much developers can deduct when a buyer cancels a flat booking — capping forfeiture at 2% before the agreement is signed, ensuring fairness and faster refunds for Maharashtra homebuyers.