Archive · 12 Sep 2026
Mumbai Commission Orders Developer To Refund Homebuyer ₹53.41 Lakh
A homebuyer paid almost all the money for a flat in Thane district.
The developer promised to give him the flat by November 2020.
The project was not completed with the required Occupancy Certificate by that time.
In 2023, the developer allegedly offered possession without that certificate.
The buyer refused because he believed the possession was not legally valid.
He continued paying rent and home-loan instalments.
The consumer commission said the developer had provided poor service and used an unfair trade practice.
It ordered the developer to return the money with interest and pay additional compensation.
The Maharashtra State Consumer Commission ordered Versatile Developers to refund ₹53.41 lakh to Hitesh Aniruddha Wasnikar.
The refund carries 12% annual interest from the respective payment dates until realisation.
The buyer was also awarded ₹2 lakh for mental agony and ₹25,000 for litigation costs.
The commission found the developer failed to provide legal possession or obtain an Occupancy Certificate by the agreed deadline.
The developer must comply within two months, or refund interest will increase to 15% annually from default.
- Who
- Hitesh Aniruddha Wasnikar and Versatile Developers; the Maharashtra State Consumer Disputes Redressal Commission issued the order.
- What
- The commission ordered a ₹53.41 lakh refund with 12% interest, plus ₹2 lakh for mental agony and ₹25,000 in litigation costs.
- When
- The order was reported on September 12, 2026; the sale agreement was signed on January 4, 2020, with possession due by November 30, 2020.
- Where
- The flat was in the Versatile Valley project at Nilje in Thane district, and the order was issued by the commission in Mumbai.
- Why
- The commission found that the developer failed to deliver legal possession, obtain the required certificate, and disclose pending litigation affecting the project.
- Refund ordered
- ₹53,41,595
- Interest
- 12% annually from the respective payment dates until realisation
- Mental agony compensation
- ₹2 lakh
- Litigation costs
- ₹25,000
- Flat and project
- Flat 1906, D-Wing, Versatile Valley, Nilje
- Possession deadline
- November 30, 2020
- Compliance period
- Two months from receipt of the order
- Default interest
- 15% annually from the date of default until realisation