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Showing posts from September, 2018

What if the builder refuses to pay interest for the delay?

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In case a builder refuses to pay interest for the delay in the possession of the flat to the buyer, due to various changes and amendments in the real estate laws the regulation of real estate laws is expected to become really well after the implementation of RERA. the various steps which can be taken 1.   An online complaint can be filed under the respective state of RERA, as the provisions of RERA are quite strict and regulation is very effective, No builder whose project is registered under RERA can go wrong with the buyers after the implementation of  RERA. A buyer can file a complaint before the RERA under which if a builder delays possession , imprisonment can be awarded which may extend to 3 years along with the interest & penalty of 10% of the entire cost of the project can be imposed on the builder 2.   A can be filed before the local court wherein the court shall award the compensation for delay and also mandate the builder to either deli...