The Economic Times

Builder delayed possession and charged Rs 75 lakh extra on the basis of super area instead of carpet area; homebuyers partly win case in Punjab RERA for delayed possession

Homebuyers in Amritsar received partial victory from Punjab RERA regarding delayed possession. The authority ordered the builder to pay interest for the delay. However, the homebuyers' claim for an extra Rs 75 lakh charge was dismissed. RERA emphasized that buyers must carefully read agreements, as the principle of 'Caveat Emptor' applies. The builder-buyer agreement's terms were deemed binding.