{
  "id": 6962319,
  "title": "Mumbai: Consumer Commission Orders Developer To Refund ₹53.41 Lakh To Homebuyer With 12 Per Cent Interest",
  "url": "https://urgent.news/2026/09/12/mumbai-consumer-commission-orders-developer-to-refund-53-41-lakh-to",
  "topic": "world",
  "section": "World",
  "published": "2026-09-12T16:59:00.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/mumbai/mumbai-consumer-commission-orders-developer-to-refund-5341-lakh-to-homebuyer-with-12-per-cent-interest"
  },
  "original_language": "en",
  "account": "On September 12, 2026, the Maharashtra State Consumer Disputes Redressal Commission in Mumbai issued an order compelling Versatile Developers to refund ₹53.41 lakh to a homebuyer, along with an additional 12% annual interest. The complainant, Hitesh Aniruddha Wasnikar, had paid this amount for a flat in the Versatile Valley project at Nilje in Thane district. The developer was also ordered to pay an additional ₹2 lakh for the mental distress suffered by the buyer, and ₹25,000 for litigation costs. The decision was made because Versatile Developers failed to provide legal possession of the property within the agreed timeline, attempting to offer an illegal possession instead, and withholding crucial information about pending litigation. The commission found that Versatile Developers had committed a deficiency in service and engaged in unfair trade practices. The developer, after failing to appear before the commission, was proceeded against ex parte. The buyer had booked Flat No. 1906 in D-Wing of the project for ₹54.50 lakh under an agreement for sale executed on January 4, 2020. He was supposed to receive possession by November 30, 2020, but paid ₹53,41,595, which was 98% of the sale consideration, leaving only ₹1,08,405 payable upon legal possession. However, the developer did not complete the project and obtain the necessary Completion Certificate/Occupancy Certificate. Instead, it provided a proforma possession letter through WhatsApp in June 2023, despite the lack of an Occupancy Certificate. The buyer refused the illegal possession and continued to pay rent, along with home-loan EMIs, totaling ₹19.35 lakh up to August 2024, including ₹17.27 lakh as interest. The developer was given two months to comply with the order, or interest on the refund amount will rise to 15% per annum from the date of default until realization.",
  "summary": "Mumbai, September 12, 2026: The Maharashtra State Consumer Disputes Redressal Commission, Mumbai, has directed Versatile Developers to refund Rs 53.41 lakh paid by a homebuyer for a flat in its Versatile Valley project at Nilje in Thane district, along with 12% annual interest from the respective dates of payment till realisation. Further, an additional amount of Rs 2 lakh was awarded towards the…",
  "key_points": [
    "Maharashtra Consumer Commission orders ₹53.41 lakh refund to Hitesh Aniruddha Wasnikar",
    "Developer Versatile Developers must pay 12% interest on refund amount",
    "Commission cites lack of legal possession and unfair trade practices"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}