MahaREAT restores Mahalaxmi project’s residential status

Four purchasers who booked flats in the proposed Orchid Turf View project in Mahalaxmi in 2007 have won an order restoring the development’s residential status.

The Maharashtra Real Estate Appellate Tribunal, in its August 25 judgment, set aside MahaRERA’s approval for a promoter change and for altering the project into a residential-cum-commercial development. The tribunal said the approval had been granted without properly verifying the facts.

Aditya Bagree, Chand Bagree, Kesari Realty and Kuber Mall Management said they had paid about half the consideration for their flats but never received registered sale agreements or possession. They challenged attempts to terminate their allotments and transfer development rights to Turf Estate Joint Venture LLP, linked to the Prestige Group.

MahaREAT found that the claimed consent of two-thirds of homebuyers was misleading because some people counted as consenting had already cancelled allotments, taken refunds and relinquished their rights. It directed the developers to list the appellants as allottees on MahaRERA’s website, execute and register sale agreements within a month, and pay a penalty equal to 2% of the project cost.