No, a builder cannot delay possession of a property without consequences. If the builder fails to hand over possession within the agreed time without a valid reason, the buyer may be entitled to legal remedies under the Real Estate (Regulation and Development) Act, 2016 (RERA), the Consumer Protection Act, 2019, or other applicable laws.
Key points:
Check the builder-buyer agreement: Review the agreement to verify the promised possession date and any clauses relating to delay and compensation.
Rights under RERA: If the project is registered under RERA, the buyer may file a complaint before the appropriate RERA Authority seeking compensation, interest for the delay, or other relief.
Compensation for delay: Depending on the agreement and applicable law, the buyer may be entitled to:
Interest for the delayed period
Compensation for financial loss or inconvenience
Refund of the amount paid in appropriate cases
