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Adv. Ajay Kumar SinghFounder & Principal Advocate
RERA Updates
UP RERA clarifies interest computation for possession delays
A recent order settles how interest should be computed where the builder offered possession without an occupancy certificate.
Adv. Ajay Kumar SinghFounder & Principal AdvocateThe Uttar Pradesh Real Estate Regulatory Authority has clarified that an offer of possession made without a valid occupancy certificate does not stop the clock on delay interest.
What this means for homebuyers
If you received a possession letter but the project lacked an OC, you may still be entitled to interest up to the date the OC was actually obtained.