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Home / Legal / What is the penalty for giving late possession?
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What is the penalty for giving late possession?

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0 2023-02-10T16:12:07+00:00
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The RERA penalty for delay in possession in case a buyer wants to file a legal case against the builder is imprisonment for a term of up to three years or a fine which may extend up to 10% of the estimated cost of the real estate project or both for the builders who fail to comply with the RERA Act. 

Since the delay in possession of projects had become a norm, RERA stepped in to protect the interest of the buyers and weed out non-serious real estate players from the market.

Get your property ready within the due time along with verified documents by availing NoBroker Buyer Plans.

Get your legal queries answered within a short time with best possible advice by experts from NoBroker Legal Services.

Read more:

What are RERA rules for refund of booking amount?

What is possession delay penalty as per RERA?

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