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.

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