6-Year Delay In Providing Possession, Karnataka RERA Orders Builder To Pay Interest, Hand Over Possession Of Flat To Homebuyer

In Karnataka RERA case, a homebuyer faced a 6-year delay in possession by the builder, seeking interest on the flat's cost. The appellate authority ordered the builder to pay 10.75% interest p.a. from the original possession date until handover. Despite the builder's argument against exorbitant interest, the authority upheld the compensation due to the buyer's financial strain. This ruling sets a precedent under RERA, emphasizing timely possession and financial compensation for delays.