Himachal Pradesh RERA Orders Rs 3 Lakh Fine on Company for Delay in Flat Possession

Shimla, May 6: HP RERA has ordered Omaxx project to pay 10.80% interest on the deposited amount and a fine of Rs 3 lakh for delay in handing over possession of a flat to a customer.

Case Background

The complainant, Gaurav Kumar Rai, had booked a flat in the Omaxx project located in Baddi. As per the agreement, possession was to be handed over by July 31, 2022, but due to construction delays, this could not happen. The complainant filed a petition before RERA seeking interest on the delay and possession of the flat.

RERA's Order

The order stated that the buyer has expressed willingness to take possession rather than withdraw from the project, therefore he is entitled to interest for the period of delay. RERA directed that the builder will pay interest at the rate of 10.80% per annum on the deposited amount of Rs 12,42,800 to the complainant.

Interest and Penalty Details

This interest shall be payable for every month of delay from July 31, 2022 until possession is handed over. The company has also been imposed a penalty of Rs 3 lakh. The penalty amount must be deposited within 60 days.