Clause 12 of the allotment letters, drafted by the Mumbai‑based builder, gave it the right to forfeit 10 % of the purchase price and levy 1.5 % monthly interest on any cancellation.
The Dubai‑based buyer, who paid 20 % of the ₹2.35 crore and ₹3.17 crore flats in 2015, never saw possession by the promised April 2017 deadline, receiving the occupancy certificate only on 27 May 2018.
When the buyer sought a refund after canceling both bookings, the builder insisted the money could only be returned after finding new buyers, citing Clause 12 and the 10 % liquidated damages provision.
MahaREAT’s July 1 2026 ruling, citing Section 4(1) of the Maharashtra Ownership of Flats Act and RERA, declared the builder’s clause unenforced and ordered a refund of ₹48.73 lakh and ₹66.56 lakh plus interest at the SBI MCLR‑plus‑2 % rate.
The tribunal also awarded ₹25,000 for costs and notified the builder to pay the sum within 30 days, with a follow‑up hearing scheduled for August 15 2026 to ensure compliance.