Summary:
The regulatory body was forced to act as the developer faltered despite agreeing on refunds as per consent terms. As per the consent terms, the developer agreed to refund buyers in four installments. But the developer was not ready to do so.”Adep said the developer was buying time and multiple groups were fighting for refund. Subsequently, MahaRERA even imposed a daily penalty of Rs 1 lakh for defaulting on refunding installments of some buyers. Therefore, we asked for a refund of the amount we paid, with interest, as per the terms the developer had agreed upon initially..