Punjab RERA Holds ATS Estate Liable For Delayed Possession, Orders Refund With Interest To Homebuyer

The Punjab Real Estate Regulatory Authority (RERA) has held ATS Estate liable for delayed possession and ordered a refund with interest to a homebuyer. The builder had failed to deliver the property on time, causing significant financial hardship to the buyer. RERA found that ATS Estate had violated the terms of the agreement by not completing the project as promised. The tribunal directed the builder to refund the amount paid by the homebuyer, along with interest, for the delay in possession. This decision is in line with RERA’s commitment to protecting homebuyers’ rights and ensuring that builders adhere to timelines and quality standards set in the agreements.