+
MahaREAT Orders Sale Agreements for Thane Homebuyers
Real Estate

MahaREAT Orders Sale Agreements for Thane Homebuyers

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.

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.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code