Hi, Under RERA, if a builder delays possession, they must pay the homebuyer interest for every month of delay at the rate prescribed by RERA. Additionally, the builder can face penalties up to 10% of the project cost or imprisonment. Homebuyers also have the right to withdraw from the project and claim a full refund with interest.
Get Legal Guidance from Senior Advocates at NoBroker for RERA Delay Penalties
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What is the Rera Penalty for Delayed Possession?
My property is delayed for possession and builder is asking for final payment without adjusting the penalty for delayed possession
Nimanshu Dass
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2 months
2025-10-06T10:07:04+00:00 2025-10-06T10:07:06+00:00Comment
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