News: Pay 11% interest to buyer for delay in flat handover: Haryana Rera to builder-14-10-2025
Gurgaon: A Haryana Real Estate Regulatory Authority (HRera) bench in the city has directed Agrante Realty to pay 10.9% annual interest as delayed possession charges to a homebuyer in its Kavyam affordable housing project in Sector 108. The Oct 8 order came after the builder failed to deliver the flat despite receiving almost the entire payment by 2022.
Homebuyer Alok Ranjan Tripathi had booked his flat in 2019 and signed an apartment buyers agreement on Aug 29, 2019, which fixed the possession deadline as Aug 31, 2023. Agrante was later granted a six-month extension due to Covid-19, pushing the revised delivery date to Feb 20, 2024. Despite Tripathi paying more than 95% of the sale consideration by Dec 2022, the builder failed to obtain the occupation certificate or offer possession by the time of the order in Oct 2025.
Rera rejected Agrante's claims of force majeure and construction bans, ruling the delays unjustified beyond the six-month extension due to Covid. The authority ordered payment of interest from Feb 2024 until possession, completion of all amenities before handover and execution of the conveyance deed within three months of obtaining the occupation certificate, reinforcing buyer protection in the city's housing sector.
The authority further ordered the builder to refrain from levying any extra charges beyond those specified in the original agreement.
According to a senior Rera official, the authority is taking a strict approach toward delayed projects, especially in the city's affordable housing segment, where possession timelines are often stretched indefinitely. "By holding Agrante Realty accountable and enforcing clear financial penalties, the authority has reinforced its stance that recurring pollution bans and procedural excuses cannot be used to justify prolonged delays," he said.
