Mumbai: Consumer Commission Orders Developer To Refund ₹53.41 Lakh To Homebuyer With 12 Per Cent Interest

Mumbai, September 12, 2026: The Maharashtra State Consumer Disputes Redressal Commission, Mumbai, has directed Versatile Developers to refund Rs 53.41 lakh paid by a homebuyer for a flat in its Versatile Valley project at Nilje in Thane district, along with 12% annual interest from the respective dates of payment till realisation.

Further, an additional amount of Rs 2 lakh was awarded towards the mental agony suffered by the complainant, along with Rs 25,000 towards the litigation charges.

“As the Opponent failed to deliver legal possession within the agreed time by obtaining the Occupancy Certificate even after receipt of 98% of the sale consideration, attempting to offer illegal possession upon the Complainant, and suppressing material facts regarding pending litigation affecting the project. The documents filed on record supported by an Affidavit had remained unchallenged. In view of the aforesaid discussion we are of the view that the opponent had committed deficiency in service and has indulged in unfair trade practice,” the order copy reads.

Commission Finds Deficiency In Service

The order was passed by Presiding Member Poonam V. Maharshi and Member Dr Nisha A. Chavan of the commission in a complaint filed by Hitesh Aniruddha Wasnikar. The developer was proceeded against ex parte after failing to appear before the Commission despite service of notice.

Wasnikar had booked Flat No. 1906 in D-Wing of the project for Rs 54.50 lakh under an agreement for sale executed on January 4, 2020. The developer had agreed to hand over possession by November 30, 2020. The buyer paid Rs 53,41,595—about 98% of the sale consideration—leaving only Rs 1,08,405 payable at the time of legal possession.

Possession Offered Without Certificate

However, the developer failed to complete the project and obtain the requisite Completion Certificate/Occupancy Certificate. Instead, in June 2023, it allegedly sent the buyer a proforma possession letter through WhatsApp despite the absence of an Occupancy Certificate. The buyer declined to accept the possession as he considered it illegal.

The delay also resulted in the buyer continuing to pay rent and home-loan EMIs. According to the complaint, he was paying Rs 23,100 monthly rent and had paid Rs 19.35 lakh towards loan EMIs up to August 2024, including Rs 17.27 lakh as interest.

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Two Months To Comply

The developer has been given two months from receipt of the order to comply. In case of default, the interest on the refund amount will rise to 15% per annum from the date of default until realisation.

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