A resident of Delhi has been awarded a penalty of approximately Rs 16 lakh by the developer of a residential complex project in Noida. The possession of the flat was handed over to him five years after the promised deadline.
Homebuyer Receives Flat and Penalty Payment Post Delayed Possession Dispute
The Uttar Pradesh Real Estate Regulatory Authority (RERA) stated that the buyer had booked a flat in Mahagun Mezzaria located in Sector 78 of Noida in 2017 and had paid Rs 1.35 crore to the promoter, NexGen Infracon. The promoter had initially promised to deliver the flat by December 2018. However, due to significant delays in possession and unresolved penalty payment issues, the buyer approached RERA in 2021.
According to a RERA official, the promoter later committed to delivering the flat to the buyer in 2021. However, as the promoter failed to fulfill the conditions stated in the builder-buyer agreement, the matter was escalated to RERA for resolution.
After reviewing the complaints, UP RERA ruled in favor of the homebuyer. In the subsequent execution of the order, the promoter handed over the flat to the homebuyer, fulfilling all the conditions. Additionally, the promoter paid a delay penalty of around Rs 16 lakh earlier this week. The satisfied homebuyer submitted a copy of the possession document to the local authority, as confirmed by RERA.
RERA Regulations and Consumer Rights: Interest Calculation and Resolution Updates
The interest for the delay in handing over the flat was calculated based on the marginal cost of the lending rate, in accordance with RERA regulations.
According to a statement, UP RERA has received approximately 14,120 requests for compliance with orders related to refund and possession. Of these, approximately 10,470 cases have been resolved and complied with.
The statement also emphasized that if a promoter fails to comply with an order issued by RERA regarding a consumer’s complaint, the consumer should immediately inform UP RERA through their website, www.up-rera.in or www.up-rera.in, using the “Order Execution Request” section.
