Complaint For Delay/Refund & Possession With Interest: Recent Judicial Clarifications

Introduction:

The Real Estate (Regulation and Development) Act, 2016 (hereinafter referred to as RERA) was promulgated to protect homebuyers from the abuses of the real estate developers and ensure particular and timely delivery of possession. Section 18 of the RERA Act states that when a builder fails within the period stipulated in the agreement to complete the project or to give possession, the homebuyer shall have an unqualified right to claim possession with interest or to withdraw from the project with full refund along with interest. Even after these clear provisions of law, disputes are still raised over delayed possession, refund timelines, and, in some instances, the scope of the builder's liability. Recently, some landmark judgments have given a new clarity on these issues, balancing the rights of homebuyers with respect to the contractual stipulations between the parties.