'Homebuyers Need Not Wait For OC To Get Refund From Delayed Housing Project': Bombay HC
Mumbai, September 29, 2026: The Bombay High Court has held that homebuyers who opt out of a delayed housing project cannot be made to wait for a refund until the developer obtains an Occupation Certificate (OC), observing that their right to get back the money paid with interest is “absolute and unqualified”. Justice Sandeep Marne made the observation while dismissing an appeal filed by Sanklecha…
On September 29, 2026, the Bombay High Court ruled that homeowners who withdraw from a delayed housing project are entitled to a refund, regardless of whether the developer secures an Occupation Certificate (OC) first. The decision came after homebuyers in the Waterways project in Nashik challenged the developer's concession to delay refund payments until the OC was obtained.
Justice Sandeep Marne dismissed the appeal, stating that the developers have no discretion over the timing of the refund once the buyers decide to withdraw. The court emphasized that the return of the amount paid with interest is the absolute right of the homeowners, regardless of the project's cash flow or the developer's efforts to complete the project.
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