Haryana RERA Orders Signature Global To Pay Interest To Homebuyer For Delayed Possession, Also Held Sale Agreement Biased

In a recent case before Haryana RERA, Signature Global was found liable for delays in handing over possession of homes to buyers. The dispute centered on a clause in the sale agreement that was deemed biased against the homebuyer's interests. The authority ruled that such clauses, which penalize buyers for delays but provide no remedy for builder delays, are unfair and not in accordance with RERA's consumer protection mandate. The decision highlights the importance of fair and balanced contractual terms in real estate transactions, ensuring equitable rights for both parties. This case underscores RERA's role in safeguarding consumer interests and promoting transparency in the real estate sector.