Homebuyer awarded full refund with 10.80% interest after builder loses registration
A buyer who paid Rs 14.51 lakh for a Gurugram flat was ordered by Haryana RERA to receive a full refund plus 10.80% annual interest after the developer’s registration was revoked.
In Gurugram’s Village Dhanwapur, a buyer secured a 642 sq ft apartment, paying Rs 14.51 lakh toward a Rs 26 lakh project after an allotment letter in December 2021. Repeated delays and a lack of construction activity led the buyer to request a refund, but the builder continued to demand additional installments. The developer’s registration was later revoked, prompting the buyer to file a complaint with Haryana RERA.
The regulator ruled that the buyer is entitled to a complete refund of the amount paid, plus interest at 10.80% per annum from each payment date, and set a 90-day deadline for compliance. Compensation and litigation cost claims were referred to the Adjudicating Officer for separate consideration. The order underscores the enforcement powers of the RERA Act when developers cease operations.
