The Punjab Real Estate Regulatory Authority (RERA) has directed Omaxe Chandigarh Extension Developers Pvt Ltd to pay ₹ 58 lakh as interest to a New Chandigarh couple for delaying possession of their four-bedroom apartment in its The Lake project. The authority also ordered the company to adjust the amount against the buyers’ outstanding dues and hand over the apartment after completing it in accordance with the agreement.
They approached RERA seeking interest for the delay, a valid offer of possession after the company obtained the occupancy certificate (OC), and relief over charges based on the apartment’s super area. The authority rejected the company’s arguments on the buyers’ alleged payment defaults, observing that Omaxe had not established the delays through the required notices or records. The authority directed it to adjust the interest against the buyers’ dues and pay any remaining amount to them.
The complainant paid ₹ 1.2 crore of the total sale price of ₹ 1.3 crore, according to the counsel Adv Mohd Sartaaj Khan. Omaxe told the authority that the buyers had delayed instalments and that the company was entitled to a 113-day extension under the agreement. It also sought a nine-month extension citing the Covid-19 pandemic and argued that it could withdraw a discount of ₹ 11 lakh offered under the payment plan. It also rejected the nine-month Covid extension, allowing only the six months granted under RERA’s October 2020 circular. This revised the possession deadline to January 31, 2022. GMADA granted the occupancy certificate for Tower Emerald-B on May 25, 2026. Omaxe issued an offer of possession on July 15, 2026, demanding another ₹ 15 lakh. The company must provide an interest calculation within 15 days and issue a revised statement of account within 30 days, adjusting the interest and excluding the disputed discount and any unquantified delayed-payment interest. Omaxe must hand over the completed apartment within 60 days of receiving the net amount and execute the conveyance deed.
The authority noted that the offer letter said finishing work would be taken up after the company received the balance amount.
