In a recent order, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Lodha Developers, formerly known as Macrotech Developers, to refund ₹6.65 lakh to an NRI couple, Vaibhav Kishor Ambukar and Seema Ambukar, following a dispute over a flat booking in their Lodha Mulund project in Mumbai. The case highlights the importance of legally sound contracts and the increasing protection of homebuyers' rights under MahaRERA.
The Ambukars, who were residing in Russia at the time of booking in September and October 2021, paid ₹7 lakh in two installments as a booking amount for a unit in Lodha Mulund Project Tower 1, which cost ₹2.27 crore. The couple had clearly communicated to Lodha's representatives that their ability to purchase the flat was contingent on securing a home loan. They claimed that Lodha's sales representatives had orally assured them that the booking amount would be fully refunded without any deductions if their loan application was rejected or in case of a financial emergency.
However, in November 2021, their loan application was declined due to documentation issues and the nature of Vaibhav Ambukar's contractual employment abroad. When the couple requested a refund and cancellation of the booking, Lodha Developers allegedly refused, leading the Ambukars to file an official complaint with MahaRERA.
Lodha Developers defended their position by stating that the booking was governed by an application form signed on November 18, 2021. They pointed to Clause 3.5 of the form, which allowed the company to forfeit up to 10% of the unit's total cost upon cancellation by the buyer. The developer maintained that the complainants were fully aware of these terms and had agreed to them.
In its order dated June 10, 2025, MahaRERA rejected Lodha's defense. The regulatory authority noted that no formal Agreement for Sale had been executed between the parties at the time of the dispute. MahaRERA deemed the forfeiture clause to be "one-sided, unconscionable, and unenforceable" under the Real Estate (Regulation and Development) Act, 2016. The authority also observed that the couple's reason for withdrawing from the deal stemmed from a genuine financial crisis and not from any malicious intent. Furthermore, MahaRERA pointed out that the application form appeared to be only partially filled and was not signed by Lodha's sales representatives. The form was also signed just nine days before the refund request was made.
MahaRERA has directed Lodha Developers to refund ₹6.65 lakh to the homebuyers by July 15, 2025. Legal experts are praising this decision as an important reminder for homebuyers to prioritize written agreements over oral assurances. This case underscores the importance of documented communication and legally sound contracts in India's real estate landscape. It also reinforces MahaRERA's commitment to protecting the rights of homebuyers and ensuring fair practices in the real estate sector.
