The Maharashtra Real Estate Regulatory Authority (MahaRERA) can no more decide on the price of homes. In an interesting case, that was first filed in 2018, then went into appeal and came back to MahaRERA, the chairperson cited that none of the provisions of the RERA Act provide for MahaRERA to decide the consideration of a price to be agreed upon between the relevant parties. Instead, the price has to be decided on amicably by the parties. In the original order, the MahaRERA had directed the complainants saying, if they wish to continue the project, then they must execute the agreements for sale within 45 days of the order (dated June 4, 2018). The complainants then appealed against the order and the tribunal remanded the complaint back to the MahaRERA for a fresh decision. In the original case, eight homebuyers had complained to the MahaRERA against Pagarani Universal Infrastructure Pvt Ltd. The complainants had stated that they purchased apartments in Universal Paradise at Santacruz. They had alleged that the developer, some time in February 2017, unilaterally cancelled the agreements. They prayed that the authority declares the agreements for sale as valid, legal, subsisting and binding on the developer, and the termination notice issued by the developer as illegal and bad in law. On the fresh day of hearing, the counsel for the homebuyers submitted that the parties failed to reach a consensus about the consideration price for the apartments and also maintained the other stand of unilateral cancellation of agreement and want of earlier agreements being declared as valid. The developer had submitted that it had become economically un-viable to continue the agreements for sale as they stood before the termination. Gautam Chatterjee, Chairperson, MahaRERA, during the final order stated, "None of the provisions of the said (RERA) Act, provide for MahaRERA deciding the consideration price to be agreed between the parties and the same is left for the parties to be decided amicably." The developer while arguing had stated that, the cancellations were executed in accordance with the then existing law and since the agreements/allotments were cancelled prior to the RERA coming into force, there was no cause of action subsisting on the date when the said act came into force. Therefore he claimed that the complainants weren't allottees in the project and the complaints be dismissed. On the jurisdiction part, MahaRERA had stated that it entertained the complaints at first place, because, though the cancellation were executed prior to RERA act coming into force, the money paid by the complainants was still lying with developer. The developer had shown interest in executing the agreement and the complainants had also shown inclination to settle the matter pertaining to the consideration price amicably. However, the parties expressed their inability to amicably settle the matter pertaining to the consideration price in particular and therefore have not been able to execute and register the agreement for sale. "Therefore, as per the binding effect, if the parties fail to execute and register the agreement for sale, the developer shall refund the amounts paid by the complainants," read the order passed by Chatterjee.

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