MahaRERA Orders Pinnacle Vastunirman to Pay Interest for Delayed Flat Delivery
Pune, 10th April 2026: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a stern directive to developer Pinnacle Vastunirman Private Limited, ordering them to pay interest to a homebuyer for not delivering a flat in the ‘Pinnacle Neelanchal Phase III’ project by the agreed deadline.
In an ex-parte order dated April 2, 2026, MahaRERA Chairperson Manoj Saunik highlighted that the developer had missed three consecutive hearings and allowed the project’s RERA registration to lapse without seeking an extension.
The ruling is a result of a complaint filed by homebuyer Mayur Vishwanath Suryawanshi, who purchased a flat in the project in January 2023 for a total consideration of ₹59.63 lakh. According to the registered agreement for sale, the builder was supposed to hand over the apartment by December 2025. However, despite the homebuyer paying a significant portion of the cost, the project remained incomplete and lacked an occupancy certificate.
Ruling in favor of the homebuyer, MahaRERA directed Pinnacle Vastunirman to pay interest on the total amount paid by the complainant—excluding statutory taxes, registration fees, and stamp duty. The interest is to be calculated from January 1, 2026, until the actual delivery of possession with a valid occupancy certificate. The authority mandated that all accumulated arrears must be cleared within 60 days.
Taking a strict stance on the lapsed project registration, the regulatory body also ordered the developer to file for an official project extension within 30 days. The order warned that failure to comply would result in punitive action under Section 63 of the RERA Act.
Furthermore, the authority explicitly stated that the developer is not entitled to claim any exemptions under the COVID-19 moratorium period notifications.
This decision underscores MahaRERA’s commitment to protecting homebuyers’ rights and ensuring that developers adhere to their contractual obligations. It also serves as a warning to other developers to maintain transparency and accountability in their projects.
