MahaRERA: Builders Can Deduct Only 2% on Flat Cancellation in Pune
MahaRERA has ruled that builders can only deduct up to 2% for flat cancellations, protecting Pune homebuyers from steep penalties.
Key points at a glance
- •🏢 Pune builder Gokhale Realty LLP fined for overcharging cancellation fees
- •⚖️ MahaRERA caps builder deduction at 2% for flat cancellations
- •⏳ Refund to be processed within 30 days as per MahaRERA order
- •💸 Protects buyers from losing large sums on booking cancellations
- •📍 Rule strengthens buyer rights in Maharashtra’s real estate market
Builder Penalty
Gokhale Realty LLP directed to refund excess cancellation charges beyond 2%.
Location
Pune-based property developer involved in the case.
Regulatory
MahaRERA enforces strict refund rules protecting flat buyers from unfair deductions.
Want more detail?
What actually happened?
A Pune buyer booked a flat with Gokhale Realty LLP but later cancelled the booking.
The builder deducted more than 2% of the total amount as cancellation fees.
MahaRERA intervened and ruled that only 2% deduction is allowed under the rules.
- Builder charged excess forfeiture beyond 2%
- MahaRERA ordered refund of excess amount within 30 days
What it means for buyers
Buyers in Pune and across Maharashtra now have stronger protection against high cancellation charges.
This ruling limits financial loss for buyers cancelling flats, providing clarity and fairness.
Investors and end-users can book with more confidence, knowing deductions are capped.
What to watch next
Buyers should verify builder cancellation policies align with MahaRERA’s 2% cap before booking.
MahaRERA may take more such actions to ensure compliance and protect buyers.
Builders might revise agreements to avoid legal challenges and maintain trust.
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