MahaREAT - Homebuyers Have Unconditional Right To Claim Interest, Sets Aside MahaRERA Conditional Payment Of Interest Order

The Maharashtra Real Estate Appellate Tribunal (MahaREAT) ruled that homebuyers have an unconditional right to claim interest for delayed possession. The tribunal set aside a MahaRERA order that had imposed conditions on the payment of interest. The ruling emphasized that developers must adhere to the agreed timelines and compensate homebuyers for any delays. This decision reinforces the rights of homebuyers and holds developers accountable for timely delivery of projects, ensuring that buyers are compensated for any inconvenience caused by delays.