Goa Real Estate Firm Ordered to Refund Rs 5 Lakh Booking Amount to Complainants
The Goa Real Estate Regulatory Authority (GRERA) has directed a real estate firm to refund Rs 5 lakh to complainants within 30 days, along with interest and costs, after the firm failed to honor its promise.
GoaReal EstateGreraRefundComplianceReal Estate NewsSep 19, 2025
The Goa Real Estate Regulatory Authority (GRERA) has issued a directive to a real estate firm to refund a booking amount of Rs 5 lakh to the complainants. The firm has been given a period of 30 days from the date of the order to complete the refund. This decision comes after the firm delayed the refund even after the complainants opted out of the project.
GRERA Member Vincent D’Silva has also ordered the firm to pay the complainants interest at a rate of 10.85% per annum on the sum of Rs 5 lakh, starting from May 4, 2024, until the effective payment is made. Additionally, the firm is required to pay a cost of Rs 2 lakh to the complainants within 30 days of the order. If the firm fails to comply, the interest will be calculated in accordance with the law until the payment is made.
D’Silva has further instructed the firm to file a compliance report in the form of an affidavit within 60 days of the order. Failure to do so will result in further legal action being initiated by the Authority under the RERA Act for the execution of the order.
“Needless to mention, the firm has defaulted in refunding the amount despite due compliance by the complainants, as evidenced by the documents produced on record. The firm has committed defaults in refunding the booking amount of Rs 5 lakh without any deduction to the complainants and has been trying to twist the facts by relying upon some ‘clauses’ of the allotment letter to avoid payment of the booking amount and other related charges. The complainants are therefore entitled to the reliefs prayed,” D’Silva stated.
The complainants, who are from Gwalior, Madhya Pradesh, are also entitled to costs of Rs 2 lakh from the firm for their investment in the proposed project. The firm claims to be an organization committed to demonstrating a high level of commitment, dedication, and motivation to provide genuinely exceptional results for all customers. The complainants invested in the project on May 4, 2024, and were promised a refund without any deductions in case of the cancellation of the agreement. However, the firm has refused to honor its promise despite multiple correspondences.
Hence, the above points are answered accordingly, ensuring that the complainants receive the justice they deserve.
Frequently Asked Questions
What is the Goa Real Estate Regulatory Authority (GRERA)?
The Goa Real Estate Regulatory Authority (GRERA) is a regulatory body established under the Real Estate (Regulation and Development) Act, 2016, responsible for regulating the real estate sector in Goa to ensure transparency and protect the interests of homebuyers.
How much is the firm required to refund to the complainants?
The firm is required to refund Rs 5 lakh to the complainants within 30 days of the order.
What additional costs and interest are the firm required to pay?
The firm is required to pay interest at a rate of 10.85% per annum on the sum of Rs 5 lakh from May 4, 2024, until the effective payment. Additionally, the firm must pay a cost of Rs 2 lakh to the complainants within 30 days of the order.
What will happen if the firm fails to comply with the order?
If the firm fails to comply with the order, further legal action will be initiated by the Authority under the RERA Act for the execution of the order.
Where are the complainants from?
The complainants are from Gwalior, Madhya Pradesh.
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