Pune Developer Refunds Full Booking Amount to Buyer

A Pune-based real estate developer has claimed that he refunded the entire amount paid by a homebuyer who allegedly disappeared just days before taking possession of his flat after suffering heavy gambling losses.

According to Rahul Ajmera of Vasupujya Corporation, the buyer had booked the home in 2022, completed the flat registration, and paid the majority of the agreement value. However, as the possession date approached, he suddenly stopped responding to calls from the developer’s sales team regarding the remaining balance, leaving everyone puzzled about his sudden disappearance.

The mystery was later explained when the buyer’s relatives approached the developer for help. They allegedly revealed that the homebuyer had incurred significant betting losses and was being held by a betting syndicate in Mumbai over unpaid debts. The buyer’s brother-in-law reportedly sought financial assistance from the developer so the family could complete the purchase, rent out the property, and gradually repay the debt.

Instead of extending a loan, Ajmera offered to cancel the transaction and process a full refund without making any deductions. He said the family could use the refunded amount to settle the outstanding debts and help the buyer rebuild his life.

The case has also drawn attention to MahaRERA’s rules on cancellations and refunds. While developers are generally allowed to deduct a portion of the agreement value when a buyer withdraws after registration and substantial payments have been made, Ajmera stated that he chose not to exercise that right. According to him, the transaction had progressed well beyond the booking stage, and the developer could have deducted up to 10% of the agreement value. However, citing humanitarian grounds, he waived the deduction and refunded the buyer’s entire payment.