Home Buyers to get Interest in case of Delayed Possession
In a recent judgement pronounced by the NCDRC – The National Consumer Dispute Redressal Commission has allowed a Home Buyer Interest as compensation for the delayed period.
Any judgements favouring Home Buyers in a dis organized real estate market is good news. Typically, after paying the token amount the Home Buyers are dependent totally on the Developer to deliver and any time lines change for possession creates bad blood between the Buyer and the Developer.
Over the years, lots of regulations have changed in all respects be it legislative, technical or any other external factors, so developers are always fighting the change in the wind and hence sometimes the delays are inevitable.