MahaRERA Orders Relief for Two Homebuyers, Says RERA Extension Cannot Override Contractual Possession Date

June 15, 2026 : The Maharashtra Real Estate Regulatory Authority (MahaRERA) has delivered significant relief to two sets of homebuyers in separate complaints against Tycoons Avanti Projects over delayed possession in the “Tycoons Square Avenue I Tower C” project. In a detailed order dated June 15, 2026, the Authority held that a promoter cannot rely on an extended RERA project completion date to defeat the contractual rights of allottees arising from a registered Agreement for Sale.

The common order was passed by MahaRERA Member II Ravindra Deshpande in Complaint Nos. CC12500879 and CC006000000591406 concerning the project registered under MahaRERA Registration No. P51700009933. The proceedings involved one commercial office purchaser seeking possession with compensation for delay and another set of residential flat purchasers seeking refund after prolonged non-delivery of possession.

According to the record, Gobind Rajani purchased Office No. F-4 on the first floor of C Wing through a registered Agreement for Sale dated June 20, 2023 for ₹39 lakh. The promoter allegedly assured possession by March 1, 2024 after obtaining the Occupation Certificate, but possession was not delivered within the promised timeline. The complainant therefore approached MahaRERA seeking appropriate relief for the delay.

In the second complaint, Jithin Philip Mathews and Mathews Mathai booked Flat No. C2205 along with a parking space for a total consideration exceeding ₹1.07 crore. They informed the Authority that they had paid ₹68.82 lakh, including statutory charges, under the registered Agreement for Sale dated October 28, 2021. The agreement fixed March 30, 2023 as the possession date, but despite repeated follow-up emails and meetings with the developer, possession was not handed over. The homebuyers consequently invoked Section 18(1)(a) of the Real Estate (Regulation and Development) Act, 2016, seeking withdrawal from the project and refund with interest.

The developer opposed both complaints, attributing the delay to multiple regulatory approvals required because the project was situated on MHADA land, technical issues in obtaining the Occupation Certificate, funding constraints, liquidity problems following the merger of HDFC Ltd. with HDFC Bank, and force majeure circumstances. The promoter also argued that the revised possession timeline reflected on the MahaRERA portal extended the project’s completion date to June 30, 2027 and therefore protected it from liability.

The residential flat purchasers challenged these explanations, contending that the promoter had produced no documentary evidence to establish force majeure or approval-related delays. They argued that financial constraints, banking issues and project funding difficulties are commercial risks of a developer and cannot dilute statutory rights available to homebuyers under Section 18 of the RERA Act. They further maintained that a RERA registration extension cannot override the possession date specifically agreed in a registered sale agreement.

After examining the rival submissions, MahaRERA rejected the promoter’s principal defence. The Authority observed that if the project was genuinely facing unavoidable delays, the promoter ought to have informed the allottees in time and revised the contractual possession schedule instead of remaining silent. The Authority found no satisfactory explanation for the prolonged delay in handing over possession.

Referring to the Bombay High Court judgment in Neelkamal Realtors v. Union of India, MahaRERA emphasized that “the fresh time under the RERA Registration shall not relegate the clause of completion of handing over the possession” and that “the right to receive interest for delayed possession is unconditional and absolute regardless of unforeseen event.” The Authority clarified that the project completion date reflected on the MahaRERA website is distinct from the contractual possession date incorporated in an Agreement for Sale, and the latter continues to govern the rights of the allottee.
Applying these principles, MahaRERA directed the developer to hand over possession of the commercial office along with the Occupation Certificate and to pay delayed possession interest from March 2, 2024 on the consideration amount of ₹39 lakh at the rate prescribed under Rule 18 of the Maharashtra Real Estate (Regulation and Development) Rules, 2017, namely the State Bank of India Highest Marginal Cost of Lending Rate (MCLR) plus 2%, until actual possession is delivered.

In the residential dispute, the Authority permitted the allottees to withdraw from the project under Section 18(1)(a) of the RERA Act. The promoter was directed to refund the consideration amount of ₹58,51,508, representing the amount paid towards sale consideration, together with statutory interest from March 31, 2023 until realization. MahaRERA further ordered cancellation of the Agreement for Sale after the refund is completed, with the developer bearing the cancellation expenses. The Authority clarified that refund under Section 18 covers only the consideration amount paid to the promoter and excludes stamp duty, registration charges and taxes deposited with the Government.

MahaRERA also awarded litigation costs of ₹20,000 in each complaint.

The order reinforces the statutory protections available to homebuyers under the Real Estate (Regulation and Development) Act, 2016. It reiterates that developers cannot rely solely on revised RERA registration timelines or financial hardship to avoid contractual obligations. The ruling strengthens the principle that once the possession date agreed in a registered Agreement for Sale expires without lawful justification, buyers may either claim delayed possession interest or exercise their statutory right to withdraw from the project and seek refund under Section 18 of the RERA Act.

Case Reference : Gobind Rajani v. Tycoons Avanti Projects Pvt. Ltd.