Steps to take if your builder delays the project incessantly

The biggest nightmare for any homebuyer is a delayed real estate project as it leads to mental agony and a huge monetary loss. In earlier days, the absence of standard regulations resulted in litigations and a long timeline of delayed possessions. But this scenario improved with the introduction of the Real Estate (Regulation and Development) Act, 2016 (RERA). RERA helped in enabling a regulatory framework and offered an avenue to fast-track dispute resolution. It brought in the very much required level of transparency in real estate sector. Here are the major steps to be undertaken in case if delayed possession of a project constantly; 
1. Legal recourse and filing of complaints - An aggrieved consumer can file a complaint according to Section 31 of RERA with the Authority or with the adjudicating officer who is appointed under legislation. The Homebuyer can also file a complaint against the real estate agent with the form or manner provided under the Act. - The adjudicating officer or the Appellate Tribunal is empowered under the RERA act, to deal with any cases of real estate project disputes. One can approach the consumer court too. 
 2. Claim refund The RERA Act offers homebuyers an amount that is including the interest on delayed possession or else provides them with a complete refund of the money paid along with interest thereon. The builder faces severe penalty on failure of providing homebuyers with compensation money.

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