Haryana RERA Directs Builder To Pay Interest And Pass Benefit Of Tax Reduction To Homebuyer

The Haryana RERA (Real Estate Regulatory Authority) has mandated that builders must pay interest on the reduced tax benefit passed on to homebuyers. This decision follows a case where a builder was found to have not adjusted the tax benefits, leading to financial losses for the buyers. The RERA order requires builders to compensate the homebuyers by paying interest on the amount saved due to tax reductions that were not appropriately transferred. This ruling aims to protect consumer rights and ensure builders adhere to fair financial practices.