Builder delayed Rs 44.36L flat by 18 months; RERA orders 10.7% interest
The interest is to be calculated on the amounts already paid by the homebuyer and will apply from June 26, 2025 until the date on which lawful possession of the flat is actually handed over.
A homebuyer in Telangana was awarded Rs 10.7% interest compensation by the RERA authority for a builder's 18-month delay in delivering his Rs 44.36 lakh flat. The builder had promised the homebuyer possession by December 26, 2024, but repeatedly changed the possession timeline. The flat cost Rs 44.36 lakh, and the buyer paid Rs 40.32 lakh towards its purchase, which included charges for amenities and other facilities.
The builder added an extra Rs 30,000 as a debris charge, which was never disclosed and deemed invalid by the authority. The builder argued that the delay was caused by Covid-19 and legal issues, but the RERA authority rejected this claim, stating that the agreement was signed after the pandemic had subsided. The authority upheld the homebuyer's right to seek interest compensation for the breach of contract.
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