MahaRERA has ordered Vinayak Enterprises to pay interest to eight homebuyers in Pune’s Eastern River Residency project after rejecting the developer’s claim that government-related delays excused the failure to provide possession on time. The order concerns the project’s D Wing in Haveli and makes clear that obtaining the approvals needed for construction remains the developer’s responsibility.
The buyers were contractually due to receive possession of their flats by December 30 or 31, 2025. The developer argued that a dispute involving the irrigation department and a stop-work notice had prevented construction from progressing according to schedule. The Maharashtra Real Estate Regulatory Authority, however, found that administrative obstacles did not automatically change the possession deadline in the sale agreements.
According to the report on the order, the Pimpri-Chinchwad Municipal Corporation issued a stop-work notice on July 3, 2025, over an issue connected to the irrigation department’s blue flood line. The developer said construction could resume only after the state government issued a clarification on January 20, 2026. MahaRERA had already granted a four-month extension after considering the impact of the construction-related issue, but possession was still not offered within the applicable period.
The authority directed the developer to pay interest from May 1, 2026, until it makes an official offer of possession along with the occupancy certificate. The interest will be calculated on the amounts actually paid by the homebuyers towards the flat price, at two percentage points above the applicable State Bank of India’s marginal cost of funds-based lending rate. Stamp duty, registration charges and government taxes will not be included in the calculation.
The eight complainants are Atish Ambadas Bargaje, Tulshiram Kaluram Date, Jitendra Sandeep Joshi, Bhushan Kishor Harane, Tejashree Tanaji Bagwe, Sonali Jadhav, Vinayak Kashinath Sakhare and Nikhil Arvind Chorghe. Their complaints also raised concerns about demands for up to 95 per cent of the flat price while construction remained incomplete, as well as issues involving lifts, parking, alleged changes to the sanctioned plan and unclear payment information.
The buyers told the authority that the delayed possession had left them carrying both home-loan instalments and rent. They chose to seek possession of the flats rather than cancel the transactions, leading MahaRERA to reject their separate claim for additional compensation while retaining the order for delay interest.
The authority also clarified that handing over keys or offering so-called soft possession does not amount to lawful possession. Legal possession can be recognised only after the occupancy certificate is obtained. MahaRERA further said that the project’s registered completion date had been extended to December 31, 2026, but that extension did not erase the developer’s breach of the possession deadline contained in the agreements.
The interest payable may be adjusted against any outstanding amount owed by the buyers at the time of possession. If the interest exceeds the outstanding amount, the developer cannot raise a fresh demand for that balance, according to the order. MahaRERA partly allowed all eight complaints and directed the developer to comply with the sanctioned plan and the terms of the sale agreements. The developer’s response could not be obtained.
