Purvankara Group

KRERA: Real Estate Developers cannot ask for delayed interest

KRERA: Real Estate Developers cannot ask for delayed interest and dues payment if their documents are not valid

The Karnataka Real Estate Regulatory Authority (KRERA) recently made a decision that developers cannot ask for delay interest from homebuyers if they have not paid their dues unless they provide valid documents like building plans and project clearances. The Authority supported a homebuyer in a case involving a the on-going project in Bengaluru. They explained that most of the documents submitted by the...

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