In a detailed final order dated 18 May 2026 passed by Member II Ravindra Deshpande, MahaRERA disposed of two complaints filed against the promoter and other respondents.

Case 1: Partial Refund Allowed (CC006000000209849)

Complainant: Bharat Babu Ishwar Peta Booking: Flat No. 3604, Tower-4 on 21 September 2021 Amount Paid: ₹5,00,000 (booking amount)

The complainant cancelled the booking within 16–18 days citing inability to secure a home loan. He claimed the promoter had advertised a “pre-launch refundable booking” and sought full refund with interest.

MahaRERA observed that the cancellation was on personal grounds and not due to any fault of the promoter. However, noting that the Application Form was not countersigned by the promoter and the cancellation occurred at a very early stage, the Authority held that full forfeiture of ₹5 lakh was not justified.

Ruling: Applying MahaRERA Order No. 60/2024, the promoter was allowed to forfeit 1% of the total consideration (₹1,26,46,880), i.e., ₹1,26,469. The promoter must refund the balance ₹3,73,531 within 45 days from the date of the order without interest. In case of delay, interest at SBI’s Highest Marginal Cost of Lending Rate + 2% p.a. shall apply. No costs were awarded.

Case 2: Complaint Dismissed (CC006000000198880)

Complainants: Manoj Agiwal & Nutan Lohia Booking: Flat No. 1905, Tower-1 in March 2021 Amount Paid: ₹4,27,590 + ₹1,57,100 (stamp duty & registration)

The complainants challenged four clauses in the draft Agreement for Sale — primarily Clause 4.1(iv) (payment milestones), Clause 28 (transfer/NOC charges of ₹2,422 per sq.mtr.), Clause 30.8, and Clause 31 (area variation).

MahaRERA noted that three of the clauses were already addressed by the promoter. On Clause 28, the Authority held that it was not among the non-negotiable clauses declared by MahaRERA (Orders 38/2022, 54/2024, 57/2024, etc.) and was a standard administrative charge. The complainants had also shown inconsistency by withdrawing and re-joining the transaction.

Ruling: The entire complaint was rejected. The Authority held that no violation of the Real Estate (Regulation and Development) Act, 2016 was established.

Key Observations by MahaRERA

• The promoter’s reliance on clauses in the Application Form and MahaRERA-approved model Agreement for Sale was upheld in the second case.
• Early cancellations before Agreement for Sale execution are governed by MahaRERA’s forfeiture guidelines.
• Homebuyers must act consistently and cannot indefinitely challenge standard clauses after booking.

The order underscores MahaRERA’s balanced approach — protecting genuine homebuyer interests in early-stage cancellations while upholding the sanctity of promoter agreements that comply with regulatory norms.

Also Read: MahaRERA Orders Refund Paid for Seven Flats in Godrej RKS Project

The post MahaRERA Orders Partial Refund in Godrej City Panvel Case, Rejects Clause Challenge appeared first on Square Feat India.

The long-awaited launch of commercial operations at the Navi Mumbai International Airport has triggered a fresh wave of optimism across Navi Mumbai and its surrounding real estate markets. With the first commercial flight taking off this week, developers, investors, and homebuyers are rapidly shifting their focus toward Navi Mumbai and extended micro-markets, marking a new phase in the region’s property cycle.

The airport’s operational debut has arrived alongside accelerated execution of major infrastructure projects, positioning Navi Mumbai as one of the fastest-growing real estate corridors within the Mumbai Metropolitan Region (MMR).

Infrastructure Push Reshapes Navi Mumbai’s Real Estate Landscape

The airport launch is being reinforced by multiple connectivity upgrades, including:

• Mumbai Trans Harbour Link (Atal Setu), cutting travel time between South Mumbai and Navi Mumbai
• Mumbai–Navi Mumbai Metro, improving internal and suburban connectivity
• Alibaug–Virar Multimodal Corridor, enhancing east–west movement
• Mumbai–Pune Expressway upgrades, benefiting Khopoli, Karjat, and adjoining zones

Together, these projects are significantly improving accessibility, making Navi Mumbai and its peripheral locations more attractive for both residential end-users and long-term investors.

Property Prices Rise 15–35% in a Year

Infrastructure-led optimism has translated directly into sharp price appreciation. According to industry estimates, residential property prices across Navi Mumbai and nearby locations have recorded year-on-year growth ranging from 15% to 35% over the past 12 months.

Average YoY Price Appreciation (Dec 2024–Dec 2025)

• Ulwe: 30–35%
• Panvel: 25–30%
• Kharghar: 20–25%
• Taloja: ~20%
• Khopoli: 18–22%
• Karjat: 15–20%
• Alibaug: 20–25%

Markets closest to the airport, particularly Ulwe and Panvel, have seen the sharpest surge. At the same time, locations within a 45-minute connectivity radius of the airport are increasingly being identified as high-potential investment destinations.

Second Homes and Luxury Housing Gain Momentum

Changing lifestyle preferences and the continued adoption of work-from-home and hybrid work models are further accelerating demand for second homes, weekend residences, and lifestyle-driven housing.

Locations such as Karjat, Khopoli, Alibaug, and parts of Navi Mumbai are witnessing growing interest from Mumbai-based buyers seeking larger homes, open spaces, and long-term capital appreciation.

Reflecting this trend, CREDAI has organised a special property showcase in Navi Mumbai, while several leading developers are preparing to launch premium and luxury residential projects across these emerging corridors.

Industry View: Airport Marks a Structural Shift

Industry leaders view the airport launch as a defining milestone for the extended MMR property market.

Mohit Malhotra, Founder and CEO, NeoLiv, said the airport will act as a catalyst for long-term regional transformation.

“The first flight from Navi Mumbai International Airport marks a defining moment for the extended MMR, setting in motion a new phase of regional growth. While micro-markets closest to the airport will benefit immediately, its larger impact will unfold across strategically connected locations such as Khopoli.”

He pointed out that Khopoli’s location along the Mumbai–Pune Expressway positions it to benefit from improved accessibility, rising economic activity, and employment generation linked to the airport ecosystem.

Malhotra added that areas within a 45-minute travel radius of the airport offer a rare mix of connectivity, affordability, and lifestyle value, making them attractive for both end-users and long-term investors.

Outlook: Strong Upside Likely by 2026

Real estate analysts believe the current momentum is only the beginning. As the airport becomes fully operational and supporting metro and road infrastructure reaches completion, Navi Mumbai’s property market is expected to witness another major upswing by 2026.

With residential prices still significantly lower than Mumbai’s core markets, Navi Mumbai is increasingly being viewed as a long-term growth engine for the MMR housing market—especially for buyers who enter early in the infrastructure cycle.

Why Homebuyers Are Watching Navi Mumbai Closely

For homebuyers and investors alike, the Navi Mumbai story offers key takeaways:

• Airport-led growth is translating into real price appreciation, not just speculation
• Infrastructure delivery is now visible and operational, reducing execution risk
• Demand is expanding beyond end-use to second homes and lifestyle housing
• Peripheral markets offer better affordability with future upside

As connectivity improves and economic activity expands, Navi Mumbai appears well positioned to emerge as one of India’s most important urban growth corridors over the next decade.

Also Read: Navi Mumbai International Airport Set to Transform Regional Connectivity and Urban Growth

The post Navi Mumbai Property Market Takes Off After Airport Launch, Prices Surge Up to 35% appeared first on Square Feat India.

The Case in Brief

Flat No. 2203 on the 22nd floor of Atlas-1 (Building S2 B-Wing) was booked in 2014 for ₹59.72 lakh. The registered Agreement for Sale executed in March 2016 promised possession by 31 December 2017. The buyers — Mr. & Mrs. Bharat More — have paid ₹47.61 lakh (over 80% of the cost) but are still waiting for possession. Frustrated, they filed a complaint before MahaRERA seeking delayed-possession interest under Section 18 of the RERA Act.

On 18 May 2021, MahaRERA ordered Marathon to pay interest from 1 October 2018 till the date of part Occupation Certificate, while granting the promoter the benefit of the COVID-19 moratorium period. Marathon challenged this order before the Appellate Tribunal.

Tribunal’s Damning Observation on “Greed”

The bench of Shri Shriram R. Jagtap (Judicial Member) and Shri Rajagopal Devara (Administrative Member) rejected every ground raised by the promoter and held (para 17):

“We are of the view that had the promoter adhered to the sanctioned plan/commencement certificate dated 20.10.2012 issued by the Collector Raigad [which allowed only 27 floors] the building would have been completed in time. However, because of greed of promoter to construct more floors above 27th floors resulted in submitting revised plans before several Authorities for approvals at belated stage.”

The Tribunal noted that the original sanction in 2012 was for 27 floors, but Marathon kept applying for 29–33 habitable floors, causing repeated delays in approvals from CIDCO-NAINA, AAI, NHAI and others — all self-created.

Delay in Approvals Is Normal, Not Force Majeure

Relying on the Supreme Court’s ruling in DLF Home Developers Ltd. vs Capital Greens Flat Buyers Association (2020), the Tribunal reiterated:

“A delay in the approval of building plans is a normal incident of a construction project… a developer… cannot set this up as a defence to a claim for compensation.”

The bench also cited Imperia Structures (2020) and Newtech Promoters (2021) to underline that the allottee’s right to interest under Section 18 is “unqualified and absolute” once possession is delayed, irrespective of the promoter’s excuses.

Eighth Straight Loss for Marathon Nexzone at Appellate Level

This is the eighth consecutive Marathon Nexzone appeal dismissed by the Tribunal in identical circumstances. Earlier dismissed appeals include those of Shreedhar Singh, Sushil Salvi, Shital Deshmukh, Neha Bagwe and others — all cited in the present order.

What It Means for 2,000+ Remaining Buyers

With this judgment, the legal position is now cast in stone:

• Marathon cannot plead force majeure for delays caused by its own decision to add extra floors.
• Every buyer who has not yet received possession or full interest is entitled to claim Section 18 interest from the due date (minus only the COVID moratorium period).
• Execution proceedings can now be filed confidently before MahaRERA for recovery.

Marathon Nexzone, once marketed as a premium township on the Mumbai-Pune highway, continues to remain partially occupied even eight years after the first promised possession dates.

Also Read: MahaRERA Orders Refund for Homebuyer in Godrej Greens Dispute: A Win Against Excessive Forfeiture

The post “Because of Greed of Promoter to Construct More Floors”: RERA Tribunal Dismisses Marathon Nexzone Appeal, Upholds Interest to Buyers appeared first on Square Feat India.

Airport + Atal Setu = New Growth Frontier

Vimal Nadar, National Director & Head of Research, Colliers India, says:

“The opening of the Navi Mumbai International Airport signifies more than just a milestone in air travel. It marks a pivotal transformation in the region’s real estate landscape, particularly within the residential and commercial sectors. The announcement of this upcoming airport had already triggered a substantial rise in property values across key areas in the vicinity including Uran-Ulwe, Kharghar, Dronagiri, Taloja, and Panvel. This greenfield airport will further accelerate the growth, driving sustained demand and significant price appreciation, presenting lucrative long-term investment opportunities.”

According to Nadar, Navi Mumbai’s positioning as a sub-dollar office market — with lower rentals compared to central Mumbai — combined with enhanced global access, is expected to spur commercial leasing activity. He adds that the proposed Aerocity, which will integrate commercial, residential and recreational spaces, will help create “a new urban ecosystem that blends work and lifestyle.”

The Atal Setu sea bridge, which has dramatically cut travel time between Navi Mumbai and South Mumbai, is another game-changer that places Panvel firmly on the real estate radar of buyers, developers, and investors.

Panvel Outpaces Navi Mumbai in Property Appreciation

The Panvel region has recorded extraordinary price growth, outpacing the rest of Navi Mumbai in both apartments and plotted developments:

Asset Type	Panvel Region (FY21 → FY25)	Rest of Navi Mumbai (FY21 → FY25)
Apartments	₹10,000–12,000 per sq.ft 74% growth	₹19,000–21,000 per sq.ft 45% growth
Residential Plots	₹80,000–85,000 per sq.yd 93% growth	₹1,10,000–1,30,000 per sq.yd 58% growth

Deepak Khandelwal, Principal Partner & Chief Sales Officer at Square Yards, observes:

“The Navi Mumbai International Airport stands as a cornerstone of the region’s broader infrastructure push, supported by major upgrades in road, rail, metro, and waterway connectivity. Its imminent operationalisation has already begun to reshape the real estate landscape, particularly across the Panvel region. Localities such as New Panvel, Old Panvel, Kharghar, Ulwe, and Taloja are witnessing a surge in development, with a growing supply of premium residential projects, gated communities, and large integrated townships.”

He adds,

“The market response has been strong, with apartment prices in the Panvel region rising by nearly 74% between FY 2021 and FY 2025, compared to 45% growth across the rest of Navi Mumbai. With the first phase to be inaugurated today and full-scale operations expected soon, the airport is set to drive the next wave of value creation, reinforcing Panvel’s position as one of the most promising growth hubs not only within the Mumbai Metropolitan Region and beyond.”

What This Means for Homebuyers and Investors

For homebuyers, Panvel has transformed from a “future promise” market to a now-or-never opportunity. The combination of airport-led infrastructure, lower ticket sizes, and premium township launches offers buyers both lifestyle and appreciation potential.

For investors, Panvel offers two distinct advantages:

1. Capital appreciation: Strong price momentum already visible pre-airport inauguration.
2. Rental yield & commercial play: With Aerocity and new office corridors on the cards, Panvel could evolve into a new residential-cum-business hub — similar to Gurugram post-IGI airport expansion.

Developers, meanwhile, are fast-tracking launches to tap into this demand surge, especially in New Panvel, Kharghar, Taloja, and Ulwe — areas well connected to the upcoming airport and metro lines.

The Takeaway

The Navi Mumbai International Airport is not just another infrastructure project — it is redefining the real estate geography of MMR. As phase one goes live, Panvel stands at the cusp of its biggest transformation yet, with growth driven by connectivity, infrastructure, and investor confidence.

For those who saw Panvel as “too far” a few years ago, the airport’s inauguration may well be the inflection point.

Also Read: Airport Micro-Markets See Steepest Property Price Surge

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Spread across more than 10 acres, The Arena will feature eight elegant towers and over 1,700 upscale homes. The first phase of the project includes three towers comprising 600 thoughtfully designed 2, 3, and 4 BHK residences, ranging from 730 sq. ft. to 1,900 sq. ft. Prices start at ₹1.31 crore for 2 BHK units, with larger configurations starting from ₹1.77 crore.

Designed to align with the lifestyle needs of modern homebuyers, the project offers not just luxury residences but also a unique sports colosseum aimed at promoting an active lifestyle. Positioned within the 588-acre integrated township of Hiranandani Fortune City, The Arena is expected to attract both end-users and investors seeking long-term capital appreciation.

Panvel’s prominence has been rising rapidly due to a wave of major infrastructure developments, including the Mumbai Trans Harbour Link (MTHL), Navi Mumbai International Airport, dedicated freight corridors, and improved suburban rail and road connectivity. These projects have significantly enhanced Panvel’s accessibility and are transforming it into a crucial economic and real estate hub as Mumbai transitions into its “Mumbai 3.0” phase.

“Panvel’s growth trajectory is being driven by increased per capita income, employment opportunities, and a demographic shift toward integrated townships,” said Dr. Niranjan Hiranandani, Chairman of Hiranandani Communities. “Developments like The Arena at Hiranandani Fortune City cater to aspirational buyers—including millennials, professionals, and NRIs—who are looking for premium lifestyle upgrades combined with future-ready infrastructure and strong investment potential.”

The township already includes operational commercial zones, with plans underway to expand Hiranandani International School and introduce high-quality healthcare, entertainment, and recreational amenities—further enhancing its appeal as a self-sustained urban ecosystem.

With growing demand for premium housing in infrastructure-led growth corridors, The Arena offers a compelling proposition for homebuyers seeking modern, community-centric living and for investors looking to tap into Panvel’s emerging status as a real estate hotspot.

As Panvel cements its role as a key economic node in the MMR, The Arena by Hiranandani Communities is positioned as both a luxury residential address and a high-growth real estate investment.

Also Read: Panvel Real Estate Market Sees Robust Growth

The post Hiranandani Communities Launches ₹1,100 Crore Luxury Residential Project ‘The Arena’ in Panvel appeared first on Square Feat India.

Situated within the expansive 200+ acre Wadhwa Wise City, ‘Evara’ offers residents the perfect balance of serene living and connectivity to key urban centers like Navi Mumbai and Mumbai. Set against the backdrop of lush, tropical greenery, the development is designed for those seeking a tranquil escape, yet with easy access to vibrant retail plazas, shopping malls, high streets, and a world-class sports complex. Residents will enjoy the benefits of living amidst 53,000 acres of greenery, with 70% open spaces and superior air quality.

Mr. Sandeep Sonthalia, CEO of Wadhwa Wise City, said, “We are delighted to introduce ‘Evara,’ our most exclusive signature villa plot offering yet. This development combines luxury with tranquility, providing an ideal retreat away from the city while maintaining excellent connectivity to surrounding areas. The abundant green spaces, exceptional air quality, and proximity to top educational and healthcare facilities further enhance the living experience. With excellent long-term growth potential, ‘Evara’ is set to be a sought-after investment for those seeking both serenity and convenience.”

The development is conveniently located just 20-30 minutes from Orion Mall, the Golf Course, Adlabs Imagica, and Della Adventure Park. Leading educational institutions, including St. Wilfred’s School, Delhi Public School, and DAV Public School, as well as top healthcare facilities like Lifeline Hospital, DY Patil Hospital, and Fortis Hospital, are within 5-15 minutes’ reach.

Panvel, often referred to as Mumbai 3.0, is undergoing rapid infrastructural transformation and is fast becoming a prime location for quality living spaces and high-value investment opportunities. Its strategic location offers seamless connectivity to important landmarks, with the Mumbai Trans Harbour Link (Atal Setu), Mumbai-Pune Expressway, Mohape Railway Station, and Panvel Railway Station all within 10-20 minutes.

With its superior design, prime location, and promising growth prospects, ‘Evara’ is poised to be a highly sought-after investment for discerning buyers.

Also Read: India’s biggest Realty Deal Worth ₹601 Cr between Jhunjhunwala & Wadhwa

The post The Wadhwa Group Unveils ‘Evara’ – Signature Villa Plots in Wadhwa Wise City, Panvel appeared first on Square Feat India.

Key Findings:

1. Price Trends and Demand Surge: The report highlights a notable increase in residential property prices in Panvel, with a rise of approximately 8-10% over the past year. This surge is attributed to the area’s growing popularity among homebuyers seeking affordable options with potential for high returns. The residential sector’s robust performance is also supported by increased demand for properties in emerging suburban locations.
2. Infrastructure Developments: Panvel’s appeal has been significantly bolstered by ongoing infrastructure developments. The anticipated completion of the Navi Mumbai International Airport and the extension of the Mumbai Metro Line 12 are expected to enhance connectivity, making Panvel an even more attractive destination for real estate investments.
3. New Project Launches: Developers are responding to the growing demand by launching several new residential projects. The report notes that there has been a marked increase in the number of new project launches in Panvel, reflecting the confidence of developers in the market’s potential. These projects are catering to a range of buyer segments, from affordable housing to premium residences.
4. Rental Market Insights: The rental market in Panvel is also showing signs of strength, with rental yields seeing a steady increase. This is in line with the broader trend of rising rental demand in suburban areas, driven by professionals and families seeking more space and better value compared to the congested city centers.
5. Future Outlook: The ANAROCK report provides an optimistic outlook for Panvel’s real estate market. The combination of improved infrastructure, rising property values, and the influx of new projects is expected to continue driving market growth. Investors and homebuyers are likely to find Panvel a promising area for future real estate ventures.

Also Read: Piramal Realty Unveils Phase One of Clubhouse at Piramal Revanta in Mulund

Conclusion: The Panvel Micro Market Report by ANAROCK underscores the area’s emerging status as a key player in Navi Mumbai’s real estate landscape. With its strategic location, ongoing infrastructure projects, and a healthy influx of new developments, Panvel is set to remain a hot spot for real estate activity in the coming years.

For more detailed insights, the full Panvel Micro Market Report is available here

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