Maharashtra RERA Orders Deregistration of Project Godrej Alive A, B, C, and E

A bench of the Maharashtra Real Estate Regulatory Authority (Authority), comprising Ajoy Mehta (Chairperson), Mahesh Pathak (Member I) and Ravindra Deshpande (Member II), has directed the deregistration of four projects named Godrej Alive A, B, C, and E. The deregistration application was opposed by Godrej Properties Ltd, which acted as the development manager for all four projects. Background Facts The builder (Applicant) registered Godrej Alive A, B, C, and E under MahaRERA, where the builder was the promoter and Godrej Properties Ltd. acted as the development manager. The builder mentioned that there were a total of 107 homebuyers across these four projects, all of whom have been refunded, and their claims have been settled. Additionally, all accounts with the landowner have also been settled. Furthermore, the builder also mentioned that due to the consequences of the National Company Law Tribunal (NCLT) Order, the project has been handed over to the new shareholder. As there are no homebuyers left in the project, the builder filed an application before the authority seeking the deregistration of all four projects. Objections by Godrej Properties Godrej mentioned that although they may be acting as the development manager, they are also registered as Promoters on the MahaRERA website. Additionally, Godrej mentioned that they are an allottee/homebuyer for around 100 flats, meaning their rights as homebuyers need to be addressed before any deregistration can occur. Godrej further mentioned that as per 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 observed that its role in a deregistration application is to stop managing the Projects, protect the homebuyers interest, and allow the builder to use the land effectively. It cannot decide on disputes between builders, as these are governed by the contracts between them. 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. Therefore, the Authority deregistered the Godrej Alive A, B, C, and E and directed the builder not to advertise, market, book, sell, or offer for sale any flats in the project. Applicant – Modella Textile Industries Limited Project Name - Godrej Alive A, B, C, And E Citation - Regulatory Case No. 228 OF 2024 A/W 3others Objector – Godrej Properties LtdClick Here To Read/Download Order

Maharashtra RERA Orders Deregistration of Project Godrej Alive A, B, C, and E

Aryan Raj

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