Haryana RERA Directs Pareena Infrastructures To Refund Homebuyer's Money, After Deducting 10% As Earnest Money

In a recent decision, Haryana RERA ordered Pareena Infrastructures to refund the amount paid by homebuyers for a real estate project that was not completed. The developer was directed to return the payments made by the buyers minus a 10% deduction, which was deemed to cover earnest money. This case underscores RERA’s enforcement of consumer rights, emphasizing that developers must fulfill their contractual obligations or face financial repercussions. By mandating such refunds, RERA aims to ensure that homebuyers are not left at a loss due to developer defaults and to reinforce trust in the real estate sector.