Patra Chawl redevelopment: Can homebuyers claim interest for delay after taking possession? Here's what Bombay HC ruled
The Bombay High Court ruled that homebuyers can claim interest from developers for delays even after accepting possession of their flats, rejecting the developer's argument that this right is forfeited without prior notice. The court emphasized that the right to interest for delayed possession is independent and indefeasible, as per the Real Estate Regulatory Act (RERA), 2016. This ruling arose from a case involving the Patra Chawl redevelopment project in Mumbai, where possession was due by June 30, 2018.