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HREAT clarifies that RERA can grant interest on delay in possession

Dated on: Tuesday 13th August 2019

Dismissing 95 applications of builders, the Haryana Real Estate Appellate Tribunal (HREAT) clarified that the RERA is competent to handle the complaints where the claim is only for grant of interest simpliciter due to delay in delivery of possession and consequently award interest. It cleared that the adjudicating officer can only intervene in cases where the claim was for refund and compensation along with the interest. There cannot be two separate forums, i.e., one for regulating the development of real estate project and another forum to grant interest for delayed possession.

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