India, Dec. 31 -- The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Sheth Developers to pay interest to 15 homebuyers for delaying its Malad East housing project, Sheth Blue Ivy, by over 15 years. The authority also ordered the developer to execute and register agreements pending since 2010 for selling the flats.

The 15 homebuyers had booked flats in the project between 2010 and 2012. Despite repeated deadline extensions, they did not receive possession of their homes. After years of waiting, they approached MahaRERA between 2023 and 2025 seeking relief.

The complaints were heard together as all the buyers made similar demands. They asked MahaRERA to direct the Sheth Developers to complete the project, hand over t...