By Staff Reporter
Karnataka Real Estate Regulatory Authority (RERA) recently delivered a landmark judgement addressing the extension of completion timelines for real estate projects. The judgement, dated 23rd June 2023, pertains to Complaint No: CMP/211209/0008704 and involves parties ANAND V.S., DIVYA SOMASHEKHAR, and TAN DEPIC, represented by Prestige Estates Projects Limited.
The complaint was filed under Section 31 of Karnataka RERA against the project “PRESTIGE BAGAMANE TEMPLE BELLS” developed by “M/S PRESTIGE ESTATES PROJECTS LIMITED.” The core issue revolved around seeking relief for interest on the delay period. The project, registered under Karnataka RERA with the registration number PRM/KA/RERA/1251/310/PR/170915/000281, is situated in Hosakerehalli Village, Bengaluru.
The complainants alleged that despite paying the entire sale consideration, the developer failed to hand over possession within the agreed timeline. The project’s possession was delayed due to factors beyond the complainants’ control, including regulatory changes. The complainants sought interest for the delay period, claiming financial hardship.
In response, the respondent contested the allegations, asserting that they completed construction and obtained a form of completion certificate before the stipulated timeline. The possession was handed over before the agreed delivery date. The delay in obtaining the occupancy certificate was attributed to regulatory uncertainties and changes beyond their control. The respondent emphasized the complainants’ acknowledgment of possession and residence in the apartment.
Karnataka RERA’s Verdict:
After evaluating both sides, Karnataka RERA reached the following conclusions:
- Dismissed the complainants’ claim for interest on the delay period.
- Acknowledged that the developer completed construction and possession was handed over within the agreed timeline.
- Noted that the complaint was filed after possession was taken, reducing its merit.
- Accordingly, Karnataka RERA dismissed Complaint No: CMP/211209/0008704.
Karnataka RERA’s judgement underscores the authority’s commitment to fair dispute resolution in the real estate sector. The case highlights the importance of adhering to agreed timelines and thoroughly examining the context of complaints. This judgement serves as a reminder for both developers and buyers to understand their rights and responsibilities to prevent unwarranted conflicts and delays in real estate projects.