MahaRERA Orders Gera to Pay Interest to Four Wagholi Buyers Over Late Flats

What the order says

MahaRERA directed Gera Developments Private Limited to pay interest to four buyers over delayed possession of flats in Planet of Joy Project III, Wagholi. The interest is set at the State Bank of India's marginal cost of lending rate (MCLR) plus 2%, calculated on the amounts the buyers paid.

Interest runs from 1 January 2026 until the offer of possession accompanied by the OC, subject to the order's conditions. The order was written by MahaRERA member Mahesh Pathak. The complaints cover flats in buildings H1 and H2, registered under MahaRERA number P52100031875.

Why the planning change did not excuse the delay

The developer argued that the transfer of planning authority for the area from the Pune Metropolitan Region Development Authority (PMRDA) to the Pune Municipal Corporation (PMC) was a force majeure event. MahaRERA rejected that argument.

In the order, Pathak said the administrative change did not automatically excuse the developer from its obligations. The regulator noted that the developer had not documented what specific obstacle the jurisdictional change created, how long it lasted, or how it affected the OC application. MahaRERA also said that obtaining the OC is the promoter's responsibility.

MahaRERA further said that its efforts to expedite the application, including proceedings before the Bombay High Court, did not extend the agreed possession deadline or remove liability under Section 18 of the Real Estate (Regulation and Development) Act, 2016.

Timeline of the case

What it means for buyers

• Under Section 18 of the RERA Act, a buyer can seek interest when a promoter delays possession beyond the agreed date.
• The order indicates that a change in the planning authority does not, on its own, extend a possession deadline.
• The relief described in the order applies to the four complainants. It does not extend to other buyers in the project by itself.
• Buyers can check their own agreement dates against the project's registration record on the MahaRERA portal under P52100031875.

What it means for investors and the market

The ruling shows that MahaRERA treats approval-related delays as the developer's risk, even when a government body changes during the approval process. Commentary on fringe areas such as Wagholi has noted that builders sometimes begin possession before a municipal OC is in place, citing delayed approvals. This order sets a clear position against using a jurisdiction change as a blanket reason for late handover.

On the same day, Gera announced The Gera Advantage, a programme offering eligible homebuyers financial support during construction and maintenance services after possession. Its EMI Shield component reimburses eligible salaried customers' pre-EMI payments for up to six months, or until they find employment, whichever is earlier. The programme also includes a 10-year structural warranty. The announcement is separate from the order.

About the project and developer

Planet of Joy Project III is one of several Planet of Joy phases by Gera Developments in Wagholi, Pune, with pincode 412207. The developer's official project page lists 2, 3 and 4 BHK apartments, duplexes and cluster villas across the Planet of Joy development.

Gera Developments Private Limited is a Pune-based developer with more than five decades in business. Rohit Gera is its Managing Director, and Gulzar Malhotra is its Chief Executive Officer.

What happens next

Interest continues to accrue until the offer of possession accompanied by the OC, subject to the order's conditions. As of 26 October 2026, the OC has been received and possession letters have been issued, according to the order's timeline.

Commentary on the RERA Act notes that developers facing similar delays risk financial penalties under Section 18, and that persistent non-compliance can lead to recovery warrants or further enforcement under Section 40. Buyers and investors should track further orders on the MahaRERA record for this project.