Karnataka RERA Orders Mantri Developers To Pay 48 Lakh Rupees To Homebuyer As Interest For Delay In Handing Over Possession

In a recent Karnataka RERA case, Mantri Developers were ordered to pay ₹48 lakh in compensation to a homebuyer for delayed possession of their property. The Karnataka Real Estate Regulatory Authority found the developer at fault for not delivering the apartment within the promised timeframe, despite receiving full payment. The ruling highlights RERA's role in protecting consumer rights and ensuring timely possession of properties. This case underscores the significance of regulatory compliance in the real estate sector.