Karnataka RERA Holds Shrivision Homes Liable For Delayed Possession, Orders 30.2 Lakhs Interest To Homebuyer

Karnataka RERA holds Shrivision Homes liable for delayed possession and orders ₹302 lakh in interest to a homebuyer. The builder was found responsible for failing to hand over the possession of the property within the stipulated time. The ruling also mandated compensation in the form of interest on the amount paid by the homebuyer, ensuring that developers adhere to the timelines specified under RERA and protect consumer interests. This case sets a precedent for similar disputes and emphasizes the rights of consumers in real estate transactions.