What if the Project is extended without particular Buyer’s consent and Buyer is not agreeable to new date?
Evidently, the Covid-19 Pandemic has affected the overall economic of the nation, which has certainly not left Real Estate sector unscathed. And in such circumstance, the Promoter has and ought to get the extension to completion of the Project.
But the levy of EMIs of outstanding amount and Rent of existing home continues on the Buyer. As per the rulings of Supreme Court, along with other reasons, the Buyer is ought to get compensation/interest of delayed possession irrespective of any reason of the delay of possession of the flat.
So, what can buyers do to prevent delayed possession? Simply, ask the Promoter the date of completion of the project, crosscheck with agreement before registering within stipulated time while confirming buffer time after anticipated completion date.
Looking for more such advice? Or, RERA consultation on your new home? Contact us today!
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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