Pune: MahaRERA Orders Yellowstone Skyscrapers To Compensate With Interest To Three Homebuyers For Delayed Flat Possession
Pune: MahaRERA Orders Yellowstone Skyscrapers To Compensate With Interest To Three Homebuyers For Delayed Flat Possession
Pune: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ruled in favour of three homebuyers and directed Yellowstone Skyscrapers LLP to pay interest for delaying possession of flats in its Sportsville residential project in Pune.
The complaints were filed by Deependra Manohar Dornal, who had booked two apartments in Tower 4, and Ishtdeep Singh Hora, who had purchased a flat in Tower 1. The project, registered with MahaRERA (No. P52100029650), had promised possession by December 31, 2025. However, the project has not yet received its Occupancy Certificate (OC), preventing handover of the flats.
According to the complainants, the developer failed to deliver possession by the committed deadline and later revised the possession timeline to April 1, 2026, citing delays related to external infrastructure works and statutory approvals. The buyers sought interest on the delayed possession from January 1, 2026, until the date they receive possession along with the Occupancy Certificate.
Yellowstone Skyscrapers LLP argued before MahaRERA that construction work had been completed and that the delay was caused solely by the pending issuance of the Occupancy Certificate by the competent authority. The developer stated that possession would be offered immediately after the certificate is received.
After examining the matter, MahaRERA Chairperson Manoj Saunik observed that the contractual possession date had expired and that neither an Occupancy Certificate nor a Completion Certificate had been uploaded on the MahaRERA portal. The authority held that the promoter remains liable for the delay irrespective of the pending approvals.
MahaRERA directed the developer to pay interest to all three homebuyers from January 1, 2026, until the date of actual possession with the Occupancy Certificate, in accordance with Rule 18 of the Maharashtra RERA Rules. The interest will be calculated on the amount paid towards the flat cost, excluding taxes, stamp duty, and registration charges.
The authority further ordered that the accrued interest be adjusted against any outstanding dues payable by the buyers, with any remaining balance to be paid within 60 days. Any additional interest accruing until possession is handed over must be paid within 30 days of the buyers taking possession of their respective flats.
