Goa Real Estate Regulatory Authority Orders Firm to Refund Rs 5 Lakh Booking Amount
The Goa Real Estate Regulatory Authority (GRERA) has directed a real estate firm to refund Rs 5 lakh booking amount to complainants within 30 days. The firm is also required to pay 10.85% interest and Rs 2 lakh in costs.
Goa Real Estate Regulatory AuthorityReraBooking AmountRefundCompliance ReportReal EstateSep 19, 2025
The Goa Real Estate Regulatory Authority (GRERA) has issued a directive to a real estate firm to refund the booking amount of Rs 5 lakh to the complainants within 30 days from the date of the order. The firm had delayed in refunding the amount after the complainants opted out of the project.
GRERA Member Vincent D’Silva has further directed 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 costs of Rs 2 lakh to the complainants within 30 days of the order. If the firm fails to comply, it will carry interest in accordance with the law until the payment is made.
Vincent D’Silva has also directed the firm to file a compliance report of this order 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 on some ‘clauses’ of the allotment letter, in order 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 investing in the proposed project. The respondents claim 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 said project on May 4, 2024, and were promised a refund without any deductions in case of cancellation of the agreement. Despite the correspondence, the firm has refused to honor its promise. Hence, the above points are answered accordingly, as D’Silva added.
Frequently Asked Questions
What action has the Goa Real Estate Regulatory Authority taken?
The Goa Real Estate Regulatory Authority has directed a real estate firm to refund Rs 5 lakh booking amount to the complainants within 30 days and to pay 10.85% interest and Rs 2 lakh in costs.
Why was the firm directed to pay interest and costs?
The firm was directed to pay interest and costs because it had delayed in refunding the booking amount despite the complainants opting out of the project and providing the necessary documents.
What happens if the firm fails to comply with the order?
If the firm fails to comply with the order, it will carry interest in accordance with the law until the payment is made, and further legal action will be initiated by the Authority under the RERA Act.
Who are the complainants in this case?
The complainants are from Gwalior, Madhya Pradesh, and invested in the real estate project on May 4, 2024.
What is the RERA Act?
The RERA Act, or the Real Estate (Regulation and Development) Act, is a law in India that regulates the real estate sector to protect homebuyers and promote transparency and accountability in real estate transactions.
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