Hi, Buddy,
In a recent ruling, the National Consumer Disputes Redressal Commission (NCDRC) determined that a homebuyer is entitled to compensation for delays until they take ownership of a finished apartment.
Within six weeks of the judgement, the court ordered the builder to pay the buyer a delay compensation of 6% per year on the money he had put.
If the compensation isn't paid on time, a 9% annual interest charge would be applied. The promoter needs to give possession on the date that is mentioned in the sale agreement. Any breach of the same can make the aggrieved customer lodge a complaint to the adjudicating officer.
NoBroker can help you with any kind of legal difficulties which you may have.Read More:
What Is Possession Delay Penalty As Per RERA?Your Feedback Matters! How was this Answer?
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How much delayed possession compensation a buyer gets if virtual space possession is not given in time? Is it limited to two years plus two months .
R.K. Handa
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3 Year
2022-03-21T11:28:14+00:00 2022-03-29T17:43:13+00:00Comment
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