Browsing Tag

no interest on refund

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In a key February 2026 decision, MahaREAT ruled that homebuyers withdrawing from delayed projects under RERA are entitled to interest from the promoter's receipt of payments—not from later default dates—overturning a MahaRERA order in the Mullaji vs. Onyx Builders case involving stalled projects in Kurla West, Mumbai.

Don’t Book Before the Developer-Society Deal is Sealed: Khar Homebuyers Paid the Price with No Interest on Refund

In a January 2026 ruling, MahaRERA directed Parthesh Developers to refund full amounts paid by buyers Rajiv Dayal and Ashok/Jyoti Narang in the lapsed Ganga Jamna Sangam project — but without interest. The Authority cited the absence of a registered Agreement for Sale and the fact that 2010 allotment letters were issued before the 2011 redevelopment agreement, rendering transactions preliminary and ineligible for statutory interest.