MahaREAT Directs Builder To Refund Entire Amount With Interest From The Date Of Payment

The Maharashtra Real Estate Appellate Tribunal (MahaREAT) directed a builder to refund the entire amount paid by a homebuyer, along with interest from the date of payment. The case involved a delay in the possession of a flat, causing mental agony to the homebuyer. The tribunal found that the builder failed to deliver the flat within the stipulated time and ordered the refund to compensate for the delay and mental distress. This decision underscores the importance of timely delivery of real estate projects and the tribunal’s role in protecting homebuyers’ rights by ensuring compensation for delays and non-compliance by builders.