Delay of Over 8 Years: Haryana RERA Directs KNS Infracon to Refund and Settle Homebuyers' Loan Account

The Haryana Real Estate Regulatory Authority (RERA) has directed KNS Infracon to refund the amount paid by homebuyers and settle their loan accounts due to an inordinate delay of over eight years in completing the project. The authority found that the prolonged delay caused significant hardship to the homebuyers, who had invested their savings in the project with the expectation of timely possession. The ruling underscores the accountability of builders and developers to adhere to promised timelines and the role of regulatory bodies in protecting the interests of consumers in the real estate sector.