MahaRERA Directs Puravankara to Pay Interest to Homebuyer Over Delayed Possession in Purva Aspire
Pune, 22nd August 2026: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Puravankara Limited to pay interest to a homebuyer for the delay in handing over possession of a flat in its Purva Aspire project in Bavdhan.
MahaRERA Member II Ravindra Deshpande passed the order on 20th August in a complaint filed by Arbazali Nazir Khan. The project is registered with MahaRERA under registration number P52100017650.
Khan purchased Flat No. ASP-F-807 through an agreement for sale executed on 27th March 2023. The total agreed consideration for the flat was Rs 1,09,14,197. According to the order, he had paid Rs 1,08,86,911 to the developer by the date of the hearing.
The complainant sought possession of the flat and interest under Section 18 of the Real Estate (Regulation and Development) Act, 2016, alleging that the developer had failed to meet the agreed possession deadline. He also claimed that he had not received adequate communication regarding the delay or a revised possession schedule.
Puravankara opposed the complaint and argued that it was premature. The developer claimed that provisions in the agreement, including the contractual grace period and other extensions, permitted possession to be handed over by 30th September 2026. It also cited disruptions caused by the Covid-19 pandemic and said that an occupancy certificate was expected shortly.
The company further alleged that the homebuyer had defaulted on certain payments, resulting in interest and financial strain. It sought the dismissal of the complaint.
MahaRERA, however, rejected the developer’s interpretation of the possession deadline. After examining Clauses 1(e) and AH of the agreement for sale, the authority held that the stipulated completion date was 30th September 2024 and that the 12-month grace period extended the possession deadline only until 30th September 2025.
“The possession date interpreted and cited by the respondent as 30.09.2026 cannot be accepted,” the authority observed in its order.
MahaRERA noted that the project had not received an occupancy certificate as of the date of the order. It consequently held that the delay in handing over possession had been established and that the homebuyer was entitled to relief under Section 18 of the RERA Act.
The authority directed Puravankara to pay interest on the amount received from the complainant from 1st October 2025 until the date on which actual possession is handed over with an occupancy certificate. The interest must be calculated at the rate prescribed under Rule 18 of the Maharashtra Real Estate Rules, 2017.
Amounts paid towards taxes, stamp duty, registration fees and other statutory charges will be excluded while calculating the interest.
MahaRERA ordered that the accumulated interest first be adjusted against any outstanding amount payable by the homebuyer towards the cost of the flat. Puravankara must pay the remaining amount in a single instalment within 60 days of the order.
Any further interest accruing until possession is handed over with the occupancy certificate must be paid in a single instalment within 30 days of the handover.
The authority also ruled that Puravankara was not entitled to claim the benefit of the Covid-related moratorium granted through MahaRERA’s notifications and orders issued in 2020 and 2021. It observed that the contractual possession deadline fell well after the moratorium period.
The complaint was allowed without an order regarding legal costs.
