When and why would Promoter be liable to issue refund, interest and/or compensation to the Buyer?
These scenarios will only arise when the project has been delayed beyond the completion date. Refund, Interest & Compensation; when buyer intends to withdraw from the project.
Interest; for every month till the actual possession, when the buyer intends to continue in the project
Additionally, compensation; when violation of any other obligations laid down by Act / Rules or Agreement.
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The information relayed in this blog should not be construed as legal advice. The applicability of information varies on the basis of the circumstances of each case. But feel free to call us for similar advice.
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