HC imposes ₹10 lakh compensatory cost on developer for delay in handing over flat

A Mumbai-based developer has been ordered to pay a compensation cost of INR10 lakh ($13,600) after appealing against a directive from the Maharashtra Real Estate Regulatory Authority to pay interest to a buyer for delayed delivery of a flat. The Bombay High Court upheld the directive and ordered the court receiver to take possession of the property and hand it over to the buyer. However, the developer has not received an occupancy certificate, so the buyer can only use the flat for fit-out purposes and not as a residence.

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