Pune: MahaRERA Orders Compensation To Homebuyer For Delay In Possession Of Flat In Urban Skyline Phase 2 At Ravet

Pune Pulse Staff Reporter 

Pune, June 12,  2026: A homebuyer has secured relief from the Maharashtra Real Estate Regulatory Authority (MahaRERA) in a case concerning delayed possession at Urban Skyline Phase 2, a residential tower project in Ravet.

In an order issued on June 4, 2026, MahaRERA directed the project’s developer, Urban Space Creators, to compensate the purchaser by paying interest on the amount already paid for the flat due to the delay in handing over possession.

The complaint was filed by Omkar Milind Kulkarni, who had booked Flat No. 605 in the project. As per records, Kulkarni entered into a registered Agreement for Sale in March 2022 for a flat priced at ₹78 lakh and paid more than ₹46.8 lakh, excluding GST, towards the purchase.

The agreement specified April 30, 2025, as the possession date. However, the developer failed to obtain the mandatory Occupancy Certificate and did not deliver the flat within the promised timeline.

Seeking relief, the buyer approached MahaRERA requesting possession of the flat, interest for the delay, and compensation for the financial burden caused by continued loan repayments and the inability to occupy the property.

During the hearing, the developer attributed the delay to several factors, including post-pandemic challenges, labour shortages, delays in securing environmental approvals, a stop-work notice issued by the Pimpri Chinchwad Municipal Corporation, transportation disruptions, and issues related to the supply of construction materials.

The builder also argued that MahaRERA had already extended the project’s completion deadline until December 31, 2027. According to the developer, many purchasers had accepted revised possession schedules and enhanced amenities offered at no additional cost.

After reviewing the submissions, MahaRERA held that the extension granted to the project did not override the legal rights available to individual homebuyers under Section 18 of the Real Estate (Regulation and Development) Act.

The authority observed that possession had not been delivered within the timeline agreed upon in the contract and that the Occupancy Certificate was still pending. It concluded that the developer had failed to meet its contractual obligations.

As a result, MahaRERA directed the developer to pay interest on the amount deposited by the purchaser from May 1, 2025, until possession of the flat is handed over along with the Occupancy Certificate.

While granting relief in the form of delayed-possession interest, the authority declined the buyer’s request for additional compensation and certain other claims.

The ruling reiterates that project deadline extensions and construction-related setbacks do not automatically negate a homebuyer’s right to claim interest when possession is delayed beyond the date promised in the registered agreement.