Court Confirms Interest on Delayed Possession

The Bombay High Court ruled that homebuyers can claim interest for late delivery of properties from developers, as per Section 18 of the RERA Act, even after taking possession.

This decision was made after a developer contested MREAT’s orders to pay interest for delayed possession, highlighting the enforcement of buyer rights under the RERA Act 2016.

A specific case from Pune illustrated this point, where two homebuyers successfully claimed interest against a developer for late possession through MahaRERA and MREAT, despite the developer’s excuses for delays.

The court emphasized that developers are responsible for completing projects on time, dismissing arguments that external factors like stop work notices excuse delays.

Legal experts such as Trupti Daphtary, a Mumbai-based advocate see the ruling as a significant win for homebuyers, clarifying that they can claim interest for delays even after obtaining possession and the Occupation Certificate (OC).