A bench of the Maharashtra Real Estate Regulatory Authority (RERA), consisting of Chairperson Ajoy Mehta and Members Mahesh Pathak and Ravindra Deshpande, has ordered the deregistration of four projects: Godrej Alive A, B, C, and E. Godrej Properties Ltd., which served as the development manager for all four projects, opposed the deregistration application.
BACKGROUND FACTS
The builder (Applicant) registered the projects Godrej Alive A, B, C, and E under MahaRERA, with the builder acting as the promoter and Godrej Properties Ltd. serving as the development manager. The builder reported that there were a total of 107 homebuyers involved across these four projects, all of whom have been refunded, and their claims have been settled. Furthermore, the builder confirmed that all accounts with the landowner have also been settled.
The builder further mentioned that, as a result of the National Company Law Tribunal (NCLT) Order, the project has been handed over to a new shareholder. With no homebuyers remaining in the project, the builder has filed an application before the authority to deregister all four projects.
OBJECTIONS BY GODREJ PROPERTIES
Godrej stated that although they may be acting as the development manager, they are also registered as Promoters on the MahaRERA website. Furthermore, Godrej mentioned that they are an allottee/homebuyer for approximately 100 flats, meaning their rights as homebuyers need to be addressed before any deregistration can occur.
Godrej further noted that, according to MahaRERA Circular No. 42 of 2023 dated 10.02.2023, homebuyers must be fully settled before deregistration can be approved. In this case, Godrej’s claims as a homebuyer have not been fully resolved. The money they received was accepted under protest, and they have raised additional claims that remain unsettled.
DIRECTION AND OBSERVATION BY AUTHORITY
The Authority further noted that it has no jurisdiction to examine the contracts binding the builder and development manager or to address issues regarding their settlements, as these matters will be handled according to the contractual agreements and NCLT orders.
The Authority also observed that in this case, the intention to complete the projects as originally planned no longer exists, for reasons that are not within the Authority’s mandate to investigate. However, the Authority will ensure that this lack of progress is not intended to disadvantage the homebuyers. If the homebuyers’ interests are protected, there is no reason to deny the deregistration request.
Consequently, the Authority has deregistered Godrej Alive A, B, C, and E and instructed the builder to refrain from advertising, marketing, booking, selling, or offering any flats in the project.
Posted and reproduced in Public Interest by
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