Delay In Handing Over Possession, Karnataka RERA Directs Ozone Urbana Infra Developers To Refund

In a recent ruling, the Karnataka RERA (Real Estate Regulatory Authority) mandated Ozone Urbana Infra Developers to refund homebuyers due to significant delays in possession. The decision came after numerous complaints about the builder's failure to deliver homes on time, which violated the terms of the sale agreements. The RERA ordered the company to return the amounts paid by the homebuyers, including interest, to compensate for the extended delay. This case underscores the regulatory body's role in protecting consumer interests in real estate transactions, ensuring that developers adhere to promised timelines or face legal consequences.