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In a significant decision favoring homebuyers, the Maharashtra Real Estate Appellate Tribunal has ordered Lodha Group (Macrotech Developers) to register a portion of its New Cuffe Parade project in Wadala with the Maharashtra Real Estate Regulatory Authority (MahaRERA). The directive comes after nine buyers, who booked flats between 2011 and 2014, alleged delays and incomplete occupancy certifications. Despite Lodha obtaining a part Occupancy Certificate (OC) in June 2017, the Tribunal emphasized that projects without full completion certificates post-May 2017 fall under RERA's purview. This ruling underscores the importance of full compliance with RERA regulations to protect homebuyer interests.
The Maharashtra Real Estate Appellate Tribunal has mandated that Lodha Group, also known as Macrotech Developers, register a segment of its New Cuffe Parade project in Wadala with the Maharashtra Real Estate Regulatory Authority (MahaRERA). This decision follows complaints from nine homebuyers who booked apartments in the Lodha Dioro, Lodha Elisium, and Lodha Enchante buildings between 2011 and 2014. The buyers contended that the developer failed to deliver possession as promised and did not secure full Occupancy Certificates (OCs) for the buildings. Advertisement
Lodha Group had obtained a part OC for these buildings on June 8, 2017, a month after the Real Estate (Regulation and Development) Act (RERA) came into effect in Maharashtra on May 1, 2017. The Tribunal noted that, under RERA, any project without a full completion certificate as of the Act's commencement date must be registered with MahaRERA. Therefore, the partial OC did not exempt the developer from registration requirements.
This ruling reinforces the principle that partial OCs do not suffice to bypass RERA mandates. It emphasizes the necessity for developers to obtain full completion certificates to ensure compliance and protect homebuyer rights. The Tribunal's decision serves as a reminder to real estate developers about the importance of adhering to regulatory frameworks designed to promote transparency and accountability in the housing sector.
For homebuyers, this verdict offers reassurance that regulatory bodies are upholding their interests and ensuring that developers meet their obligations. It also highlights the critical role of MahaRERA in overseeing real estate projects and enforcing compliance to safeguard consumer rights.
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