Karnataka RERA Orders Dharwad-Based Builder To Refund ₹38.8 Lakhs To Homebuyer Due To Delay

A homebuyer in Dharwad approached Karnataka RERA (Real Estate Regulatory Authority) against a builder for failure to deliver possession of the flat within the agreed timeframe. The homebuyer had paid ₹3.88 lakhs but had not received possession on time, which caused financial distress. The builder failed to provide any valid justification for the delay. In its ruling, RERA ordered the builder to refund the entire amount paid by the homebuyer with 9% interest. The decision highlights the importance of timely project delivery in the real estate sector and ensures that buyers are protected from unjust delays. Builders must be diligent in adhering to timelines, and failure to do so can result in financial penalties.