The Punjab Real Estate Regulatory Authority (RERA) has directed Omaxe Chandigarh Extension Developers to pay ₹ 31 lakh interest to a flat buyer for delaying possession of his unit at The Lake project in New Chandigarh. The authority also directed the buyer to pay ₹ 9 lakh towards the balance amount due for possession and additional area, which will be adjusted against the interest awarded to him.
The complainant was represented by his counsel advocate Mohd Sartaj Khan. Bhullar had booked a 3BHK flat, measuring 1,885 sq ft, in The Lake project at New Mullanpur. The total sale consideration was ₹ 55 lakh, and he had paid ₹ 50 lakh, including GST, to the promoter, according to the order. RERA held that Bhullar was entitled to interest under Section 18 of the Real Estate (Regulation and Development) Act, 2016. It calculated the interest at 11% on ₹ 50 lakh for 69 months, from August 1, 2019, to April 30, 2025, and fixed the amount at ₹ 31,51,368.
The authority also held that Bhullar would not be liable to pay maintenance charges to the promoter until the awarded amount, along with any accrued interest, is paid or adjusted. The exemption will not apply if maintenance has been handed over to an RWA or another third-party agency.
