RERA orders Omaxe to pay Rs 53.65 lakh to homebuyers for delay in hand over of 3BHK

The complainants stated that they had already paid over 90 per cent of the total amount, i.e., Rs 76,05,041, but the developer failed to deliver possession within the stipulated time. As per the agreement, possession was to be handed over within 42 months, i.e., by January 8, 2019, but the project has been delayed by more than five years.

After hearing the matter, the authority directed the developer to pay interest on the deposited amount at the highest MCLR rate plus 2 per cent, which currently amounts to approximately Rs 53,65,000.

The authority further clarified that the promoter cannot indefinitely rely on Covid-19 as a reason for delay in handing over lawful possession of the unit.

Importantly, the order states that the compensation amount will continue to increase at the rate of Rs 62,383 per month until the developer makes a valid offer of possession after obtaining the required Occupation/ Completion Certificate from the competent authority.

The authority also warned that if the developer fails to comply with the directions, separate proceedings under Section 63 of the RERA Act may be initiated for non-compliance of the order.