MahaRERA Orders Rs 7 Crore Refund For 12, But Defers Payment Till Dec 2023 For Project Completion
29 May, 2023
MahaRERA orders Rs 7 crore refund for 12, but defers payment till Dec 2023 for project completion
The Maharashtra Real Estate Regulatory Authority (MahaRERA) directed the builders of the Mirabilis luxury project in Santacruz to refund money paid by 12 allottees who had complained about the project's delay. Under a subvention scheme, nine allottees will get their payments back without interest while three buyers will get full refunds with interest, with amounts up to Rs 1 crore each totalling over Rs 7 crore. MahaRERA acknowledged mitigating circumstances beyond the builder's control and deferred payment until the project's scheduled completion in December 2023. Times of India article