MahaREAT Orders Sale Agreements for Thane Homebuyers

23 Jan 2025 CW Team

In a landmark ruling, the Maharashtra Real Estate Appellate Tribunal (MahaREAT) has set aside a MahaRERA order that dismissed the complaints of eight homebuyers against the ‘One Park Avenue’ project in Thane. The Tribunal directed the current promoter, Purva Oak, to execute agreements for sale with the complainants, recognizing their rights as allottees.

The project, originally launched by Man Global in 2012, faced delays, with buyers paying 30% of the flat cost in advance but never receiving allotment letters or sale agreements. The project was later transferred to Man Realty Ltd and eventually taken over by Purva Oak under SARFAESI provisions.

MahaREAT underscored that under Section 15 of the RERA Act, all pending obligations of the previous promoters transfer to the new one. “The accrued rights of the complainants remain unaffected and are subsisting, valid, as well as binding on parties,” the Tribunal stated.

Advocate Omkar Khanvilkar, representing the homebuyers, highlighted that Man Global issued receipts acknowledging payments, which constituted booking confirmation. However, despite issuing refund cheques, the previous promoter instructed buyers not to deposit them.

The Tribunal noted that payments exceeding the permissible threshold were taken by Man Global, violating RERA norms. Purva Oak, as the successor promoter, is now bound to fulfill these agreements.

This decision reinforces the accountability of developers and offers relief to homebuyers facing long-standing disputes.

Real Estate

23 Oct 2025

What Does Home Insurance Really Cover?

Home insurance is one of the most important protections a homeowner can have. It offers financial cover for unexpected damages, losses, or liabilities related to your property. However, many homeowners are not fully aware of what is actually included in their home insurance policy.This guide breaks down what home insurance really covers, so you can be better prepared and make informed decisions.What is home insurance?Home insurance is a financial product that protects your house and belongings against damage, theft, or accidents. It generally includes coverage for the building itself, as ..

Hettich Strengthens Industry Ties at Madhya Pradesh Investment Meet

Hettich India, a global leader in furniture fittings, reinforced its commitment to Madhya Pradesh’s industrial growth as a Guest of Honour at an Interactive Session on Investment Opportunities in Power, Renewable Energy Equipment, and White Goods Manufacturing, hosted by the Government of Madhya Pradesh in partnership with the Confederation of Indian Industry (CII) at Hotel Trident, Nariman Point, Mumbai.The session, chaired by Dr Mohan Yadav, Hon’ble Chief Minister of Madhya Pradesh, brought together leading domestic and international investors, industry representatives, and business lead..

Raimondi Names New Saudi Branch Head

Raimondi Middle East has announced the appointment of Ahmad Shakkour as Branch Manager for the Kingdom of Saudi Arabia, reinforcing the company’s commitment to expanding its presence in one of its key regional markets.With Saudi Arabia driving a wave of large-scale infrastructure and urban development projects, Raimondi aims to strengthen its on-ground operations and customer engagement. The company currently has over 100 cranes deployed across the country and continues to expand its technical and service teams to support growing demand.“Saudi Arabia represents a cornerstone of our regiona..