Informative

Karnataka RERA Directs Mantri Developers To Pay 42 Lakh Rupees To Homebuyer As Interest For Delayed Possession

Update / Judgement Date

10 Sept 2024

Source

Live Law

Author

Team — WCP Legal Desk

Reading Time

1 min read

Consumer Protection ActRERA & Property Act

Karnataka's Real Estate Regulatory Authority (RERA) has ordered Mantri Developers to pay ₹42 lakh to a homebuyer as interest for the delayed possession of a property. The decision reflects RERA's commitment to protecting homebuyers' rights and holding developers accountable for delays in delivering property. The compensation is intended to cover the financial impact of the delay on the homebuyer and underscores the importance of timely completion of real estate projects as per agreed terms.

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Karnataka RERA Directs Mantri Developers To Pay 42 Lakh Rupees To Homebuyer As Interest For Delayed Possession

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