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Telangana RERA Penalizes Builder for Delay,Orders Interest Payment to Buyer Until Flat Handover
Dated on: Wednesday 12th February 2025The Telangana Real Estate Regulatory Authority (RERA) has penalized a builder for project delays, ordering compensation to homebuyers. The builder is required to pay interest to the buyer until the flat is handed over, ensuring adherence to project timelines and protecting consumer interests. This action aligns with previous rulings where builders were mandated to compensate homebuyers for delays. For instance, in December 2024, a district consumer forum directed a developer to pay compensation for delayed handover of a flat, emphasizing the principle of parity in builder-buyer agreements. These measures underscore the commitment of regulatory authorities to enforce compliance and safeguard the rights of homebuyers in the real estate sector
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