A possession offer without OC is not a legal offer, NCDRC orders the developer to refund the money of homebuyers

The National Consumer Disputes Redressal Commission (NCDRC) has ruled that an offer of apartment possession without an occupancy certificate (OC) does not amount to a legal offer, reaffirming homebuyers’ right to seek refunds in delayed housing projects. The NCDRC has ruled that offering possession without an occupancy certificate is invalid, reaffirming homebuyers’ right to claim […]

Real estate developer granted pre-arrest bail in ₹52-Cr cheating case

MUMBAI: The sessions court has granted anticipatory bail to a 54-year-old real estate developer accused of cheating a Bandra-based builder of around ₹52 crore in a Vile Parle slum rehabilitation project. Real estate developer granted pre-arrest bail in ₹52-Cr cheating case Additional sessions judge NG Shukla granted bail to the accused, Kedar Bhikaji Bapat, and […]

Can a developer forfeit a homebuyer’s booking amount if the sale agreement is not signed and the booking is cancelled?

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has held that a developer cannot forfeit the entire amount paid by a buyer if the agreement for sale has not been executed and the booking is later cancelled. The MahaRERA clarified that in such cases, the developer can deduct only 2% of the flat’s cost as cancellation […]