My builder in Greater Noida promised to handover my flat within 3 years, but it’s taking 5 years. Can I ask for compensation for this extra delay, even though the agreement doesn’t mention interest? The builder refuses to pay. What steps can I take?
Best Answer
Yes, you can seek compensation for the delay even without explicit mention of interest in the agreement. Under the Real Estate (Regulation and Development) Act, 2016, you can file a complaint with the Real Estate Regulatory Authority (RERA) for the delay. RERA can order the builder to pay compensation based on the delay and the applicable interest rate.
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