What is RERA penalty for delay in possession by the builder?
Builder received loan amount from buyer and builder is paying only interest on loan to us since 7 years and not getting OC and not giving possession and not updating RERA. There was arrangement to sell the flat within one year after loan disbursed and to close loan account but after 7 years only giving excuses. What to do? What will happen?
1 Answer
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Advocate By LEAD INDIA
Answered: 17 Sep 2023
If you have been paying interest on a loan for a flat for 7 years without receiving possession or an occupancy certificate (OC), and the builder is not responding to your concerns, You can file complaint with RERA or You can file case in the consumer court.
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