To get a refund with interest, you need to have sale agreement

  • | Monday | 15th July, 2019

"No order for refund with interest can be passed since no agreement for sale has been executed." The buyers prayed that the developer be directed to refund the entire amount paid by them along with interest. During the course of hearing Gautam Chaterjee, the chairman of MahaRERA, told the buyers that no order for refund with interest could be passed since no agreement for sale had been executed and registered between the parties. The case clarifies that for MahaRERA to pass an order of interest to be paid by the developer with refund, an agreement between the buyer and the developer is necessary. PUT IT IN WRITINGThe ruling clarifies that for MahaRERA to pass an order directing a developer to refund the booking amount along with interest, an agreement between the buyer and the developer is necessary

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