Assured-Return Order: What It Means for Buyers and Investors in Mohali Commercial Units

What happened?

Hindustan Times reported that the Punjab Real Estate Regulatory Authority ruled on a complaint against Sushma Developers and its directors over a commercial unit in the Sushma Empiria project. The complaint came from the legal heirs of Maj Gen Dr Shamsher Singh Chauhan, who had booked complete business unit no. 12 on January 29, 2020.

According to the report, the family said the buyer paid ₹3 crore in 2020 but never received a registered sale agreement. The developer countered that it had received only ₹1 crore towards the basic price, and said the other payments were for proposed bookings that never went ahead. It also said possession was due by December 31, 2027.

The authority held that an offer letter or similar informal paper cannot stand in for the sale agreement the law requires. It ordered the promoter to sign the agreement and complete the transfer to the heirs, and awarded assured returns at 12% a year for a fixed period, followed by statutory interest for the later delay. It also asked for sanctioned plans and an area statement to test a claimed shortfall in carpet area, with a refund if overcharging is found. Compliance is due within 60 days of receiving the certified order, and the secretary was told to start separate proceedings over the developer taking more than 10% of the price without a written agreement.

Which sectors are affected?

• Mohali commercial real estate
• Assured-return commercial units
• Buyers who paid without a registered agreement
• Punjab RERA enforcement

Potential impact

This is a ruling on one complaint, not a new rule, so it will not move Mohali prices on its own. Our data puts the city average at ₹6,900 per sq ft, and nothing in the report suggests a change in that figure. The more likely effect is on behaviour: developers selling commercial units with assured-return or discount schemes may be more careful about documenting them, and buyers may be more willing to press claims.

The outcome is also not final on every point. The amount actually paid is disputed, the area check is still pending, and the order could be appealed or delayed in execution. Buyers should treat it as a sign of how the regulator reads such disputes, not as a guarantee of recovery.