The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Godrej Greenview Housing Private Limited of the Godrej Properties to deduct only 2% instead of 5% and refund the balance amount to a homebuyer who had booked and canceled booking of an apartment worth Rs 92 lakh in Godrej Emerald project in Thane near Mumbai.

The homebuyer, Ajit Dabhade, had initially booked a flat worth Rs 92.17 lakh in June 2019, paying an earnest amount of Rs 5 lakh. However, due to issues securing the promised loan for stamp duty and registration, Dabhade decided to cancel the booking. Subsequently, Godrej Properties forfeited the entire amount paid by Dabhade.

In response to Dabhade’s complaint, MahaRERA directed the developer to deduct only 2% of the total consideration value of the flat, amounting to a refund of the balance to the homebuyer.

Dabhade alleged that he did not receive the promised loan amount in full, which hindered his ability to proceed with the purchase. Despite the developer’s offer of an amnesty scheme in 2021 to mitigate the delayed interest, Dabhade opted for cancellation, prompting the forfeiture by Godrej Properties.