MREAT modifies MahaRERA order, directs builder to pay interest from date of payments

Dated on: Wednesday 21st June 2023

The Maharashtra Real Estate Tribunal (MREAT) has made modifications to a previous 2021 order issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA). The original order had denied home buyers the entitlement to receive interest on their payments from the day they were made, as well as refunds for additional payments like stamp duties and registration fees. However, in the latest ruling, MREAT directed a developer based in Andheri to compensate the home buyer with interest, commencing from the day of the initial deposit, and further mandated the refund of all statutory payments.

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