Refund full amount, including registration fee, stamp duty

The Maharashtra Real Estate Appellate Tribunal has taken a strict stance against a developer for failing to hand over a flat to the buyer within the stipulated time. The tribunal has ordered the developer to refund the entire amount paid by the buyer, including stamp duty, registration fees, and pre-EMIs.

Homebuyers Hemal Mehta and Shibani Mehta had booked a flat for Rs 32.17 lakh in the Ekta Parks Ville project near Vasai, Mumbai. The sale agreement was signed on December 2, 2014, and the apartment was supposed to be delivered by December 2016. The buyers had already paid over Rs 11 lakh, while HDFC Bank disbursed more than Rs 23 lakh as a home loan under the developer’s proposed subvention scheme.

However, as the developer failed to hand over the flat on time, the buyers initially approached the Maharashtra Real Estate Regulatory Authority (MahaRERA), seeking a refund of the amount paid along with interest.

The developer appeared before the MahaRERA bench and argued that the homebuyers had opted for the subvention scheme. Additionally, the developer claimed that the buyers had paid only Rs 8.43 lakh and that he had offered full possession of the apartment in February 2019.

On the other hand, HDFC Bank informed MahaRERA that it had sanctioned a loan of Rs 27 lakh and disbursed Rs 23.8 lakh to the developer at the buyers’ request. Given this, MahaRERA ruled that the buyers and the developer must settle outstanding dues, including interest, up to the original payment date.

After hearing all arguments on August 9, 2021, MahaRERA directed the developer to refund the amount paid by the buyers along with interest, starting from January 1, 2017. The developer challenged this decision before the Maharashtra Real Estate Appellate Tribunal.

At the same time, the homebuyers also approached the tribunal, seeking reimbursement for EMIs paid to the bank, stamp duty, registration fees, brokerage, and other expenses related to the home loan. They stated that the total cost of the flat was Rs 32.17 lakh, along with additional charges including Rs 1.93 lakh for stamp duty, Rs 30,000 for registration fees, Rs 33,024 for MVAT, and Rs 1.69 lakh for possession charges, amounting to Rs 36.42 lakh in total.

After reviewing the arguments, the tribunal ruled in favour of the homebuyers.