Yes, as a homebuyer, you have legal rights to seek compensation if the builder delays handing over possession of your flat beyond the agreed-upon date. The law provides several remedies under RERA (Real Estate Regulatory Authority) and consumer protection laws. Here’s what you can do:
1. Check the Agreement for Possession Date
First, refer to your Builder-Buyer Agreement. The possession date mentioned in the agreement becomes the legal basis to prove the delay. Also, check if there is a grace period clause and whether the delay is justified due to “force majeure” (unforeseen events like natural disasters).
2. File a Complaint with RERA
- Under Section 18(1) of the RERA Act, you can demand:
- Full refund with interest, or
- Possession with interest compensation for delay.
- RERA authorities are mandated to resolve such disputes within 60 days.
- You can file a complaint on your respective state’s RERA website.
3. Approach the Consumer Court
- You can file a complaint in the Consumer Disputes Redressal Commission (District, State, or National depending on the value of the flat).
- Reliefs available:
- Compensation for mental agony and harassment
- Refund or interest on paid amount
- Penalty for unfair trade practices
4. Claim Interest for Delay
You may claim monthly interest (usually 8–10%) for the delayed period, calculated from the committed possession date till actual handover or refund. RERA generally mandates builders to pay this without contest.
5. File a Case for Deficiency in Service
As per the Consumer Protection Act, 2019, delay in possession is considered deficiency of service. This gives you a strong case to claim compensation, refund, and even litigation expenses.
6. Class Action with Other Buyers
If multiple buyers are affected, you can file a joint complaint. This adds weight to your case and ensures quicker resolution and higher compensation in some cases.
