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The Maharashtra Real Estate Appellate Tribunal (MahaREAT) overturned a previous MahaRERA decision that dismissed complaints of eight homebuyers regarding the One Park Avenue project in Thane. The dispute originated when the initial promoter, Man Global, failed to issue allotment letters or execute sale agreements after receiving advance payments in 2012. The project later transitioned to Man Realty and eventually to Purva Oak under SARFAESI provisions. Recognising the complainants as allottees, MahaREAT ruled that all pending obligations were transferred to Purva Oak. The Tribunal directed the current promoter to execute sale agreements, ensuring the accrued rights of the complainants remained valid and enforceable.
The Maharashtra Real Estate Appellate Tribunal (MahaREAT) recently reversed an order by MahaRERA, which had rejected complaints lodged by eight homebuyers concerning the One Park Avenue project in Thane. The Tribunal deemed the disputes as qualifying under the Real Estate (Regulation and Development) Act and not merely as civil or criminal matters. Advertisement
The homebuyers had paid advance amounts in 2012 to the initial promoter, Man Global, but neither received allotment letters nor executed agreements for sale. The eight complainants booked the flats and paid advance amounts of 30% of the total considerations based on the promise that allotment letters would be issued within 30 days of the initial payments.
The promoters then gave them options for exit and refunds of paid amounts.Subsequently, the promoter issued refund letters with cheques to the appellants. However, these cheques were not deposited as per the oral instructions of the promoter not to deposit them.
Following delays and issues, the project was transferred to Man Realty and later acquired by Purva Oak under SARFAESI provisions. Advocate Omkar Khanvilkar represented the complainants, who alleged breach of trust after payments exceeding the permissible threshold of the total consideration.
MahaREAT recognised the complainants as legitimate allottees, referencing receipts issued by Man Global that confirmed their bookings. It ruled that under Section 15 of the RERA Act, all obligations of the prior promoters were legally transferred to Purva Oak. The Tribunal directed the new promoter to execute agreements for sale, ensuring the accrued rights of the complainants remain intact, binding, and enforceable.
The MahaREAT's decision underscores the enduring nature of homebuyers' rights under the Real Estate (Regulation and Development) Act, ensuring developers remain accountable for pending obligations despite changes in project ownership. By recognising the complainants as legitimate allottees and compelling Purva Oak to honour its responsibilities, the Tribunal has upheld the principle of consumer protection. This ruling serves as a reminder to developers about their obligations to homebuyers and reinforces trust in the regulatory framework.
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