The record
Written by software from the 1 report below. The points restate them; where one says why it matters, that is Prism's reading, not a reported fact.
- A Dubai-based homebuyer successfully challenged a Mumbai builder's attempt to deduct heavy fees after the developer missed a promised possession date by a year.
- The tribunal ordered a full refund of the paid amounts plus interest, citing the builder's failure to execute a formal agreement for sale.
- The ruling declared that one-sided penalty clauses in allotment documents cannot override protections granted to homebuyers under real estate law.
- This decision reinforces regulatory standards that limit the amount a developer can retain upon booking cancellations.
What to watch next
- Future enforcement of the MahaRERA model allotment letter requirements.
- Impact of this ruling on pending disputes involving similar one-sided builder clauses.
Who said what1
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Amit Wadhwani
Partner at Khaitan & Co
1 quote · 1 outlet
“the key reason the homebuyer succeeded was MahaREAT's finding that a one-sided condition in an allotment letter cannot override a homebuyer's statutory entitlement to a refund under RERA.”
In the article
…its terms were contrary to the rights available to homebuyers under the RERA framework. MahaREAT said the same principles applied to this case. Judgement explained Amit Wadhwani, Partner at Khaitan & Co, told ET that the key reason the homebuyer succeeded was MahaREAT's finding that a one-sided condition in an allotment letter cannot override a homebuyer's statutory entitlement to a refund under RERA. Wadhwani further pointed to a MahaRERA order dated September 3, 2024, under which the authority prescribed a model allotment letter that builders are required to follow in accordance with MahaRERA Order No. 60/2024.…
Coverage1
All filed from India
Named India · Amit Wadhwani · Khaitan & Co · Maharashtra Real Estate Appellate Tribunal · MahaRERA · State Bank of India
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