<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>Town Centre project Archives - Square Feat India</title>
	<atom:link href="https://squarefeatindia.com/tag/town-centre-project/feed/" rel="self" type="application/rss+xml" />
	<link>https://squarefeatindia.com/tag/town-centre-project/</link>
	<description>Real Estate News Website</description>
	<lastBuildDate>Thu, 18 Sep 2025 10:53:53 +0000</lastBuildDate>
	<language>en-US</language>
	<sy:updatePeriod>
	hourly	</sy:updatePeriod>
	<sy:updateFrequency>
	1	</sy:updateFrequency>
	<generator>https://wordpress.org/?v=6.9.4</generator>

<image>
	<url>https://squarefeatindia.com/wp-content/uploads/2019/12/squrefeatindia_favicon.png</url>
	<title>Town Centre project Archives - Square Feat India</title>
	<link>https://squarefeatindia.com/tag/town-centre-project/</link>
	<width>32</width>
	<height>32</height>
</image> 
	<item>
		<title>MahaRERA Orders Refunds &#038; Interest for Homebuyers, Possession with Delay Penalty in “Town Centre” Project</title>
		<link>https://squarefeatindia.com/maharera-orders-refunds-interest-for-homebuyers-possession-with-delay-penalty-in-town-centre-project/</link>
		
		<dc:creator><![CDATA[SquareFeatIndia]]></dc:creator>
		<pubDate>Sun, 21 Sep 2025 10:49:25 +0000</pubDate>
				<category><![CDATA[Realty]]></category>
		<category><![CDATA[Fannan Builders]]></category>
		<category><![CDATA[homebuyer rights Maharashtra]]></category>
		<category><![CDATA[maharera order]]></category>
		<category><![CDATA[Mumbai Real Estate]]></category>
		<category><![CDATA[real estate disputes]]></category>
		<category><![CDATA[RERA possession delay]]></category>
		<category><![CDATA[RERA refund]]></category>
		<category><![CDATA[Town Centre project]]></category>
		<guid isPermaLink="false">https://squarefeatindia.com/?p=9893</guid>

					<description><![CDATA[<p>In a major order, MahaRERA has directed refunds with interest for some buyers and possession with delay penalty for another in the stalled “Town Centre” project by Fannan Builders. The ruling highlights how RERA empowers homebuyers while penalising defaulting builders.</p>
<p>The post <a href="https://squarefeatindia.com/maharera-orders-refunds-interest-for-homebuyers-possession-with-delay-penalty-in-town-centre-project/">MahaRERA Orders Refunds &amp; Interest for Homebuyers, Possession with Delay Penalty in “Town Centre” Project</a> appeared first on <a href="https://squarefeatindia.com">Square Feat India</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>In a significant relief to homebuyers, the <strong>Maharashtra Real Estate Regulatory Authority (MahaRERA)</strong> has ordered refunds with interest and possession with delay penalty in the long-stalled <strong>“Town Centre” project by Fannan Builders &amp; Developers</strong>. The project, registered under <strong>P52000011650</strong>, was supposed to hand over possession in <strong>September 2021</strong>, but remains incomplete without an occupancy certificate. Acting on complaints from multiple buyers, MahaRERA passed its order on <strong>4 September 2025</strong>, directing the developer to either refund amounts with statutory interest or hand over possession with compensation.</p>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h3 class="wp-block-heading">The Case</h3>



<p>Several buyers approached MahaRERA after suffering losses due to the delay. They alleged that despite revised deadlines, the project was not completed, leaving them in financial and emotional distress. Some buyers sought <strong>refunds of the money paid</strong>, while others demanded <strong>possession with interest</strong> for the delay.</p>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h3 class="wp-block-heading">MahaRERA’s Observations</h3>



<ul class="wp-block-list">
<li>The builder neither completed construction nor applied for an extension of the registration.</li>



<li>The promoter failed to appear during hearings and did not file any replies, leading the Authority to proceed <strong>ex-parte</strong>.</li>



<li>Buyers with complete documentation were able to secure favourable orders, while incomplete records weakened some refund claims.</li>
</ul>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h3 class="wp-block-heading">Final Order Highlights</h3>



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Complaint No.</th><th>Buyer/Unit</th><th>Relief Ordered</th><th>Amount Involved</th><th>Interest/Relief</th></tr></thead><tbody><tr><td>CC006000000395949 (Flat C-402)</td><td>Paid ₹8.5 lakh</td><td><strong>Refund</strong></td><td>₹8,50,000</td><td>With interest from 16.09.2021 till realization</td></tr><tr><td>CC006000000395949 (Flat C-301)</td><td>Paid ₹15.59 lakh</td><td><strong>Refund</strong></td><td>₹15,59,260</td><td>With interest from 16.09.2021 till realization</td></tr><tr><td>CC006000000396170 (Flat B-201)</td><td>Paid ₹1 lakh (claimed higher but not proved)</td><td><strong>Refund</strong></td><td>₹1,00,000</td><td>With interest from 16.09.2021 till realization</td></tr><tr><td>CC12500393 (Commercial Unit B-102)</td><td>Paid ₹13.28 lakh in full</td><td><strong>Possession + Delay Interest</strong></td><td>₹13,28,300</td><td>Possession with OC, interest from 16.09.2021 till handover</td></tr></tbody></table></figure>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h3 class="wp-block-heading">What This Means for Homebuyers</h3>



<ul class="wp-block-list">
<li><strong>Keep your records:</strong> Agreements, payment receipts, and bank details are critical in RERA cases.</li>



<li><strong>Refunds possible:</strong> MahaRERA allows refunds with interest if possession is not given.</li>



<li><strong>Possession rights:</strong> Fully paid buyers can demand possession with compensation for delay.</li>



<li><strong>Builder accountability:</strong> Non-compliance and absence in hearings severely weaken the builder’s defense.</li>
</ul>



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h3 class="wp-block-heading">Bigger Picture</h3>



<p>This order reinforces the role of MahaRERA as a <strong>protector of homebuyers’ rights</strong> in delayed or lapsed projects. It also underscores the importance of documentation for buyers seeking justice. For developers, it serves as a warning that <strong>ignoring deadlines and regulatory compliance will invite strict penalties</strong>.</p>



<p>Also Read: <a href="https://squarefeatindia.com/maharera-orders-refund-paid-for-seven-flats-in-godrej-rks-project/">MahaRERA Orders Refund Paid for Seven Flats in Godrej RKS Project</a></p>
<p>The post <a href="https://squarefeatindia.com/maharera-orders-refunds-interest-for-homebuyers-possession-with-delay-penalty-in-town-centre-project/">MahaRERA Orders Refunds &amp; Interest for Homebuyers, Possession with Delay Penalty in “Town Centre” Project</a> appeared first on <a href="https://squarefeatindia.com">Square Feat India</a>.</p>
]]></content:encoded>
					
		
		
			</item>
	</channel>
</rss>
