Informative

Karnataka RERA Orders Maars Infra Developers To Pay 7.12 Lakh Rupees To Homebuyer As Interest For Delay In Handing Over Possession

Update / Judgement Date

28 Aug 2024

Source

Live Law

Author

Team — WCP Legal Desk

Reading Time

1 min read

Consumer Protection ActCorporate Law & GovernanceRERA & Property Act

The Karnataka RERA ordered Maars Infra Developers to pay ₹7.12 lakh as interest to a homebuyer due to delays in handing over possession of a property. The delay was found to be unjustified, and the developer was held accountable for compensating the buyer. This ruling underscores the importance of timely possession in real estate transactions and the protections afforded to homebuyers under the RERA Act.

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Karnataka RERA Orders Maars Infra Developers To Pay 7.12 Lakh Rupees To Homebuyer As Interest For Delay In Handing Over Possession

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