Haryana RERA Directs Ocean Seven Buildtech To Pay Interest To Seven Homebuyers For Delayed Possession

The Haryana Real Estate Regulatory Authority (RERA) directed Ocean Seven Buildtech to pay interest to seven homebuyers due to delayed possession of their properties. The developer had failed to deliver the flats within the agreed time frame, leading to financial loss for the homebuyers. RERA’s decision emphasizes the developer’s responsibility to adhere to timelines and fulfill contractual obligations. It also ensures that homebuyers are compensated for any delays in possession, reinforcing the rights of consumers under the Real Estate (Regulation and Development) Act.